UK used car market remains stable


UK used car market remains stable

New figures have revealed that the UK’s used car market was stable in the first quarter of 2019.

The Society of Motor Manufacturers and Traders (SMMT) has said the market dropped by 0.6 per cent with 2,020,144 transactions taking place.

Demand for hybrid, plug-in hybrid and pure electric cars continued to grow, up 30.7 per cent, with 32,272 models changing hands.

Of these alternatively fuelled vehicles (AFVs), hybrids experienced the largest growth – up 34.2 per cent, with pure electric rising 4.8 per cent to 3,067 units.

However, AFVs took just 1.6 per cent of all transactions in Q1, with conventional petrol and diesel making up 98.3 per cent of the market, the fuel types up 1.1 per cent and down 3.6 per cent respectively.

Mike Hawes, SMMT chief executive, said: “Amid ongoing political and economic uncertainty, a stable used car market is good news for the automotive sector as it underpins crucial new car sales activity.

“Consumers are benefitting too, as more of the latest, safest and cleanest vehicles filter through to second owners.

“If we’re to accelerate this shift, and meet shared ambitions on air quality and climate change, a long-term government commitment to supporting take up of the latest technologies in the new car market will be essential.”



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