Used car demands keep rising
Demand for used cars grew by 7.1% from Q3 2015 to Q3 2016, with UK buyers snapping up a record 2,148,050 vehicles in the last three months.
Figures from the Society of Motor Manufacturers and Traders (SMMT) also found that consumer appetite for alternatively fuelled vehicles rose substantially – increasing 34.1% (21,543) compared with the same period in 2015 (16,059). The number of electric vehicles changing hands grew 94.1% between July and September as used buyers made the most of new fuel technology appearing in the used sector.
The north west and south east were the areas where most second-hand cars were bought, with the Ford Fiesta again the most popular model.
Mike Hawes, SMMT chief executive said, ‘Sustained growth in the used car sector is great news for consumers, who have never enjoyed so much choice – whether in brand, body style or fuel type and the range of finance packages on offer makes them more affordable than ever. It’s particularly promising to see the growing demand for electric vehicles filter into the used car market but to encourage greater take-up, a more widespread commitment to charging infrastructure is needed.’