Used-car market slips in UK
Used-car sales in the UK tumbled 8.9 per cent in the first quarter of 2021 when compared to the same period a year earlier, according to new figures from the Society of Motor Manufacturers and Traders (SMMT).
A total of 1,687,755 units were sold – down from 1,851,919 – with the decline driven by year-on-year falls in January and February of 27.1 per cent and 19.4 per cent respectively, as lockdown measures depressed demand and closed car showrooms.
March brought a 32.2 per cent year-on-year rise with 638,570 cars changing hands, although the same month of 2020 suffered weak sales because the UK entered its first coronavirus-related lockdown.
Used-car sales for the first quarter of 2021 were also down by 16.5, or 332,389 units, from the same period in 2019.
There was increased demand at the start of this year for low-emissions vehicles compared to the same time a year ago. Hybrid sales were up 16.6 per cent to 27,694 units, plug-in hybrids saw a 32.1 per cent climb to 10,534 units, and battery electric vehicles surged 48.3 per cent to 6,564 sales.
The combined number of plug-in vehicles sold still represents only one per cent of the market, up from 0.7 per cent in the first quarter of 2020.
Luxury saloons and specialist sports were the only segments to see growth, up 10.3 per cent and 5.4 per cent respectively, with transactions in the mini segment falling the most, down 18.3 per cent.
Mike Hawes, chief executive of the SMMT, says the latest figures reveal the turbulent impact of coronavirus lockdowns on the used car market.
“While March’s performance suggests there is some pent-up demand, this is against a weak month last year, so its true extent remains to be seen,” he explains.
“The second quarter will see significant growth as last year’s April and May markets were severely limited by lockdown measures.
“It’s vital that the used market is rejuvenated to help sustain jobs and livelihoods, drive fleet renewal and support environmental progress.
“With car showrooms open again and the UK coming out of Covid restrictions, the sector can look forward with renewed optimism.”
