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Used car market rebounds

Used car market rebounds
“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”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT used car figures.

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. 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%. 

Robinson added, “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 we expect the market to stay at high levels in the last quarter of the year”

*Article Source https://www.rmif.co.uk/