It is positive to see that the used car market remained at high levels in the first quarter of 2019 as franchised retailers continue to be able to offer to UK consumers excellent alternatives to new cars.
Despite a slight decline of -0.6% in the first quarter of 2019, the used car market remained at high levels in the UK, in the first quarter of 2019, with a total of 2,020,144 used cars changing hands, according to the latest SMMT figures. Demand for hybrid, plug-in hybrid and pure electric cars grew substantially by 30.7%, with 32,272 models changing hands in 2019. However, petrol and diesel transactions accounted for 98.3% of the market. Petrol rose 1.1% and diesel declined -3.6%.
There has been strong demand at franchised dealerships for used and nearly new cars in 2019. This was also supported by delays in the supply of new vehicles which have prompted buyers to opt for a second-hand vehicle.
It is encouraging to see that alternative fuel vehicles experienced significant growth in the first quarter of the year. However, it is important to note that petrol and diesel accounted for the majority of the market s they remain the most suitable option for many consumers.
Going forward, we expect the market to perform well as consumers continue to find good value in used cars.