Growth in used car market continues

The UK used car market continues to grow, with recent DVLA statistics showing that used car transactions have grown by three per cent year on year during the July to September period for 2015. Year to date used car transactions have also increased, by 4.2% and 225,000 units year-on-year.

The 4×4 segment showed the strongest performance with used sales of large and small 4x4s growing by 9.1% year on year as the UK moves towards winter, and savvy shoppers prepare for weather warnings this week ahead of the threat of heavy snow bought by Storm Barney.

Auto Trader, the UK’s largest digital automotive marketplace for buying and selling new and used vehicles, have revealed the Top 10 most searched for 4x4s for July to September 2015.

1. BMW X5
2. Land Rover Range Rover
3. Land Rover Range Rover Sport
4. BMW X3
5. Mercedes-Benz M-Class
6. Honda CR-V
7. VW Touareg
8. Land Rover Range Rover Evoque
9. Toyota RAV4
10. Audi Q5

Auto Trader’s retailer and consumer products director Karolina Edwards-Smajda said, ‘The current increasing levels of used car transactions are a bi-product of the strong new car registrations that have been experienced over the last few years, with these vehicles now re-entering the used car market. Transactions for nearly new cars less than one year old and cars between one and three years old are fuelling the growth, showing an increase of 8% and 15% year-on-year respectively.’