The used car market is growing again – and sales have topped two million

The used car market returned to growth in Q2 after stalling earlier this year, new figures show. Latest data from the Society of Motor Manufacturers and Traders (SMMT) show 2,009,318 vehicles changed hands in the second quarter, up by 0.7%. It was the first Q2 to exceed two million units since 2021. It marks an improvement on Q1, which saw sales slip 0.2%, bringing an end to 12 consecutive months of growth. With the first and second quarters combined, used car sales stand at 4,025,550 – up 0/2% year on year. Used electric cars performed particularly strong, up 67.0% to 110,761, with demand jumping sharply in April and May, coinciding with fuel prices rising in April and May. Hybrid electric vehicle sales also rose 31.2%, but plug-in hybrid fell by 6.8%. Petrol remained the most popular fuel type, despite transactions falling by 1.2% to 1,121,243, while diesel sales continued to decline, down 7.2% to 620,045 as a result of fewer new diesels being registered. The Ford Fiesta remained the top-seller, with 73,570 sold in Q2, followed by the Vauxhall Corsa (59,247), Volkswagen Golf (55,786), Ford Focus (52,283) and the Volkswagen Polo (38,972). Black was the favourite colour for used cars in Q2, notching up 423,238 sales, followed by grey (377,108) and white (334,190). SMMT chief executive Mike Hawes said: ‘A return to growth is good news for motorists and the wider automotive sector, with sales of used EVs rising particularly strongly as more choice reaches more buyers. ‘As the used market is where most people buy their cars, plentiful and affordable supply is vital, however, increasingly unrealistic targets in the new car market risk constraining that supply and pushing up costs. ‘Urgent regulatory reform is needed to deliver a transition that works for every driver.’ Nominate yourself for a Used Car Award Join our breaking news WhatsApp group Sign up for daily email Car Dealer news bulletins Listen to the latest Car Dealer Podcast Read the latest digital issue of Car Dealer Magazine The post The used car market is growing again – and sales have topped two million appeared first on Car Dealer Magazine.