Used car sales reach the highest levels ever and these are the most demanded models

Used car sales have risen sharply since the lockdown ended

Used car sales increased significantly in the second quarter of 2021 as new car registrations struggled.

The Society of Motor Manufacturers and Traders (SMMT) said the figures for May and June were the best on record as the industry recovered from the effects of the foreclosure.

According to the latest SMMT data, 2.17 million used cars were sold in the second quarter of the year, more than double the figures for 2020 when the lockdown forced dealerships to close, and up 6 , 6% from pre-pandemic levels.

Used car sales increased while new vehicle registrations continued to struggle

Data from used car dealers shows that prices have also increased, with some used models selling more than new versions.

A combination of drivers resuming their normal activities, more and more people choosing to drive instead of using public transport, and supply problems in the new car market are believed to be behind the remarkable recovery in car trade. second-hand cars.

New car registrations in July are down 30 percent from July last year and 22 percent from the decade average. Much of this has been blamed on staff shortages at dealerships caused by the “pingemia” and global parts supply issues that have forced some companies to limit production.

Mike Hawes, managing director of SMMT, said this has helped boost used car sales. He commented: “More and more motorists are turning to used cars as supply shortages continue to affect the new car market and the increased need for personal mobility, with people wary of transportation. together when they return to work. “

Jim Holder, Editorial Director of What Car ?, added: “The shortage of microchips has caused many new cars to wait more than six months and has prompted a number of new car buyers to look to the market for new cars. the occasion. What Car? in June revealed that 29% of them were originally in the market for a new car, but switched to the used sector in search of better inventory availability and better prices.

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Ian Plummer, commercial director at Auto Trader, said the site has seen a sharp increase in used car prices. He said: “After the physical forecourt reopened in April, we have seen a dramatic increase in traffic in our market up 41% and 36% in 2020 and 2019 respectively.

“Coupled with the supply issues for used cars, this demand has caused used car prices to skyrocket from an already large 7.1% yoy increase in April to 11.1%. in June. This steep path continued, and in July prices were following more than 14%. “

Auto Trader also identified the used models most in demand by buyers, with Volkswagen, Mercedes and BMW dominating the list.

The evergreen Volkswagen Golf attracted more than 12.5 million searches in the second quarter, 1.2 million more than the Mercedes C-Class and three million more than the BMW 3-Series. Rivals E-Class and 5-Series and Class A and 1 Series were more sought after than the Ford Focus, Range Rover Sport and Audi A3, which completed the top 10 most sought after models.

SMMT data showed that while buyers searched for these models the most, the Ford Fiesta was still the top-selling used car, ahead of the Vauxhall Corsa, Ford Focus and VW Golf.

Some models have even seen used values ​​exceed the new list price as drivers struggle to find the car they want. Models of Land Rover, which has been forced to cut production at its Castle Bromley site due to component shortages, are being advertised up to 23% more. According to Auto Trader data, some used versions of the Defender are selling for £ 13,500 more than the current new list price. Toyota’s untraceable GR Yaris is also selling for up to 20% more in the used market.

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