The UK’s used car market suffered a -12% decrease over the three months of July to September, equating to two consecutive quarters of decline this year. The quarter three transactions dipped below two million for the first time since 2015 this year, registering 1,785,447 used vehicles sold. Furthermore, sales have decreased -9.7% in a year to date (YTD) evaluation, registering 5,319,482 sales.

On the other hand, used battery electric vehicles (BEV) had an incredibly successful quarter as the electrified new car market increased 44.1% with 16,775 transactions. In a YTD evaluation, this added up to 48,032 transactions. In addition to this, the market for used hybrid electric vehicles (HEVs) also grew by 2.5% in the quarter.

Although sales declined across all segments, superminis acquired 32.2% market share, allowing them to dominate the market. Following this, lower medium received 26.4% market share and dual purpose had 14.7% market share at third place. MPV transactions, on the other hand, had the largest decrease of -18.5%. Minis also had a notable drop in market share, -18.2%, as well as upper mediums -17.1%.

Black cars with held a fifth of the market, 21.4%, making it the most popular colour. Second place to this was grey, registering 292,808 transactions. The highest loss in demand for any colour was silver vehicles, which reduced by -18.0%.

The Southeast region, excluding London, offered 265,755 used cars transactions in Q3, the most activity of any region. The Northwest presented the second most, 196,560 transactions, while West Midlands achieved 178,824 in third place. Northern Ireland only sold an accumulative 56,563 used cars, making them the region with least activity.

Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents car and commercial retailers in the UK comments on the latest SMMT used car market for Q3:

"Used car registration figures have fallen for the second consecutive quarter, reflecting the importance of steady supply of new cars into the vehicle parc. Nevertheless, demand from consumers continues to be strong, and with car values still on the rise. It is positive to see that electric vehicles continues to uphold the market, as the automotive sector transitions towards decarbonisation and net zero targets."