Used car sales hit records levels in Q1 2017

Used car sales hit records levels in Q1 2017

SMMT USED Q1 17The Society of Motor Manufacturers and Traders (SMMT) has confirmed that   2.1 million used cars were sold in the UK in Q1 2017, 3.4% up on 2016.  The figures amount to the highest first quarter on record.

 

Electric and hydrogen used car sales continue to grow from a small base: up  43.2% to 21,320 units. Diesel and petrol sales made gains of 5.6% and 1.6% respectively. By colour, white cars saw the biggest growth, up 17.1%, while silver remained the best-selling colour at 463,959 sales, a decline  of 2.1% on Q1 2016.

The supermini was the largest segment, accounting for more than a third of the used car market.  The mini segment was the fastest growing – with sales up 13.2%.

Mike Hawes, SMMT Chief Executive, said, “A buoyant used car market combined with strong residual values is good news for the sector, with motorists benefitting from the wide range of models and high-tech safety and connected features entering the market. Diesel cars remain as popular as ever, with consumers now able to take advantage of the low emission Euro 6 diesels available in the used car market. It’s also positive to see sales of used electric and hybrid vehicles rise, reflecting what we have seen in the new car market. To ensure this growth is maintained and the benefits of low emission vehicles spread quickly throughout society, continued investment in infrastructure, incentives and a tax regime that encourages demand is essential."