It is positive to see used car sales perform well in the third quarter of the year, but lack of clarity affecting consumer confidence in the new car sector must be addressed.
The used car market rose by 0.9% in the third quarter of 2019 with 2,076,382 vehicles changing hands, 18,925 more than the same period in 2018, according to the latest SMMT used car figures. Plug-in electric and hybrid models showed a solid increase of 13.0%. Demand for diesel grew by 1.4%, petrol sales saw a slight decline of -0.2%.
As new car sales continue to be affected by supply constraints, used cars present excellent opportunities to many motorists.
It is encouraging to see that plug-in and hybrid vehicles experienced significant growth as these models become increasingly available to consumers in the second-hand market.
Used and nearly new cars remain a key area of focus for franchised retailers and NFDA expects the market to stay at high levels in the last quarter of the year.