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Used car market declined in second quarter of the year

John Wood ·
Ford Fiesta is the UK's top selling car model
Ford Fiesta is the UK's top selling used car model
  (Photo:  )

The UK’s used car market declined by 2.8% in the second quarter of the year, according to the figures released by the Society of Motor Manufacturers and Traders (SMMT).

A total of 2,034,236 transactions took place, resulting in a shortfall of fewer than 60,000 units compared with the same period last year.

Used car sales have fallen in every month this year apart from March, when they rose 1.9%.

Demand for petrol and diesel models declined in the second quarter, down by 3.7% and 2.5% respectively. However, combined sales of the fuel types still made up 98.3% of the market.

However, demand for hybrid, plug-in hybrid and pure electric cars continued to grow, up 24.8%, with 33,492 models changing hands. Pure electrics experienced the largest growth – up 32.8%, with hybrids also rising 25% to 29,321 units.

Mike Hawes, SMMT chief executive, commented: “With the country still gripped by economic and political uncertainty it’s perhaps unsurprising to see the used car market slowing down.

“This means owners are often holding on to their cars for longer, delaying the widespread introduction of the latest, cleanest models which is not good for air quality.

“We need a boost to consumer confidence, something that a Brexit deal would deliver, to improve the fortunes of the industry and the wider economy.”

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Weekly retail fuel prices: 25 May 2020
RegionDieselLPGSuper ULUL
East112.28121.59106.87
East Midlands111.76123.12106.54
London113.47124.97108.20
North East110.34125.25104.79
North West111.33119.82106.56
Northern Ireland108.52111.40102.55
Scotland110.64121.62105.63
South East113.2059.90124.27108.35
South West111.83124.12106.47
Wales110.29113.90104.94
West Midlands112.13125.12106.81
Yorkshire & Humber111.6957.70121.80105.92

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