Used car sales hint at recovery in UK

Buyers of used cars in the UK are increasingly looking for cleaner, greener options, even if traditional fuel options are still holding their own in the market.

Overall, the UK’s used car market finished 2019 almost on par with the previous year, recovering to just a 0.1 per cent drop following two quarters of growth in the second half, the Society of Motor Manufacturers and Traders (SMMT) says. 

Its figures reveal that there were 7,935,105 units sold last year, down 9,935 from 2018.

Demand for petrol and diesel cars remained robust, with sales of the latter down 0.6 per cent to 3,297,953 and a 41.7 per cent market share. Petrol sales fell by only 0.3 per cent to 4,494,611 transactions.

In contrast, zero-emission, battery electric vehicle demand surged 21.8 per cent to 14,112 sales, although this represented just 0.2 per cent of the market.

Combined, alternatively fuelled vehicles – hybrid, plug-in hybrid and battery electric – were up 23.4 per cent with 135,516 changing hands and accounting for 1.7 per cent of all sales. 

Reflecting trends in the new car market, superminis remained the most popular used buy, maintaining their 2018 performance and taking a 32.8 per cent market share.

Mike Hawes, pictured, chief executive of SMMT, says it was encouraging to see used car sales return to growth in the latter stages of 2019 after a prolonged period of decline. 

“A buoyant used car market is necessary to maintain strong residual values and, clearly, it is now outperforming the new car market,” he adds. 

“This does, however, suggest that weak consumer confidence and ongoing uncertainty over possible future restrictions on different vehicle technologies are causing some car buyers to hold off buying new models. This is delaying the fleet renewal we need now if we are to deliver immediate and continuous improvement in air quality and climate change.”