Plan Insurance Blog

Used car sales numbers down in Q2

After a record 2016, the used car market has seen a small decline in the demand (-0.7%) in the second quarter of 2017, according to the Society of Motor Manufacturers and Traders (SMMT).

It is hoped that the negative growth figures are not a sign of consumer demand slowing as the actual implications of Brexit unfold.
The SMMT moved to reduce fears as they confirmed that sales for the year as a whole remain stable having increased by +1.3% to over 4.2 million units. This moderate decline could also be attributed to the changes to VED rates on new cars (introduced on 1st April 2017), and the record figures from the same period last year.

Green vehicles sales on the up

A real trend emerged in the second quarter of the year with buyers moving towards alternatively fuelled vehicles (AFVs). Even though numbers remain low (accounting for just 1.1% of the market), AVFs saw an impressive 26.1% boost. In particular, pure electric vehicles sales increased by an astounding 79.3%.
If Petrol sales decreased (-0.8%), Diesels remained popular despite negative press with an increase of 4% (1.7m bought in the first half of the year).

Superminis and small family cars still favoured by the used car British drivers

The most popular used vehicle model type in Q2 is still the supermini (nearly 700,000 cars, or a staggering 33.1% of the market), followed by the small family car (over 56,000 cars).
Just as in the new car market, the segments showing growth were Executives, Minis and SUVs (up 0.4%, 7.6% and 6.4% respectively).

Top 10s

More than 40% of the used vehicles changing hands were silver (21.6%) or black (20.2%).
Once again, the top 3 models are the Ford Fiesta, the Ford Focus and the Vauxhall Corsa.
The South East purchased nearly 50% more vehicles than its nearest regional rival.
Top-10 used car colours Q2 2017 SMMT
Top-10 used car models Q2 2017 SMMT
Top 10 used car sales research Q2 2017 SMMT
Source: SMMT