Used car market ends 2019 with increase in Q4

“It is positive to see that the used car market grew in the last quarter of the year, up 2.4%”, 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 market figures.

The used car market saw a growth of 2.4% in the last quarter of 2019 with 1,804,343 transactions. Overall in 2019, the used car market finished almost on par with the previous year with a marginal decline of -0.1% and a total of 7,935,105 sales. Used petrol declined by -0.3%, diesel -0.6%, while combined alternative fuel vehicles grew by 23.4%. Transactions of Euro 6 diesel models were up 32.5%.

Sue Robinson added, “Petrol and diesel performed well and, positively, there was an increase in transactions of Euro 6 diesel models, which remain the cleanest diesel and most suitable vehicles for a number of motorists. Also, with the growth in sales of new alternative fuel vehicles, consumers will benefit from an increased range of models available in the used sector over the next years.

“The used car market will continue to be an important business area for franchised dealers in 2020. However, we must address the uncertainty that has been affecting consumers and, as a result, new car sales.

“Overall, used car transactions remain at high levels and it is encouraging to see retailers’ optimism for the year ahead”.