Used electric and hybrid car sales are booming.
Figures from the SMMT today show a dramatic increase as the market swells for low emission vehicles now coming onto second-hand sites.
Britain’s used car market held strong in 2018’s second quarter, with sales down by a marginal -0.4%, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). 2,093,429 vehicles changed hands, just 8,725 fewer compared with Q2 2017.
Superminis remained the most popular segment, despite a -2.6% decline in transactions, accounting for a third of the market (32.6%), and followed by small and medium-sized family cars. SUVs and executive models experienced the biggest growth, with demand up 10.7% and 3.9% respectively.
Elsewhere, trends closely followed the new car market, with black the UK’s most popular used car colour for a second consecutive quarter and silver and blue taking second and third places. Demand for white cars grew fastest, up 9.8%, followed by orange, up 9.1%. Meanwhile, green and maroon lost most favour among buyers, falling -14.6% and -9.6% respectively.
James Fairclough, CEO at AA Cars, said of the latest figures, “It is encouraging that Britain’s used car sales performance held firm in the second quarter of the year, despite a more turbulent time in the new car market.
“It is also encouraging that British motorists are increasingly choosing used hybrid and electric cars – which saw a leap of 25.3% in year on year sales. The choice of options and quality of technology in these cars has come a long way in recent years, and they have become much more affordable too – so we are starting to see the pace of customer adoption increase significantly.
“At the same time, sales of used diesel cars have also risen and prices have held up well too – something that cannot be said of new diesel vehicle sales, which have been materially impacted by the negative press surrounding proposed changes to low emission zones, vehicle taxation and parking charges.
“With such a buoyant used car market, it is worth reminding any potential buyers that they should always exercise a degree of caution when buying a used vehicle. They should be careful to choose a reputable dealership and consider arranging an independent vehicle inspection to uncover any issues with the car they have chosen.”