Fleet News

Used car sales reach record volume and values

Used car sales hit 7.4 million units last year, the highest volume recorded since 2006 and fuelling a record market value of £42.7 billion, according to BCA’s Used Car Market report.

Strong retail sales dominated the picture, with dealers accounting for a record market share, as they increased their volumes year-on-year by 5.1% to 4.28 million, equivalent to 57.8% of the total. 

Private-to-private sales market share declined marginally to 38%.

Continued value growth saw the used car market value climb by £4.6 billion to an all-time high of £42.7 billion, outperforming the total new car market value by £6 billion.  

Used car data year-on-year

Used Car Volume

Used Car market value

Dealers used cars sold

Dealers share of used car market value

7.4 million ↑ 4.2%

£42.7 billion ↑ 4.2%

4.28 million ↑ 5.1%

76.8%  (£32.8 billion)

Average used car value

Average dealer car value

Average private-to-private car value

Average Age of cars on road

£5,764 ↑ 7.6%

£7,660 ↑ 9.8%

£2,465 ↓14.8%

7.7 years ↑ 1.0%

 

 

 

 

 

 

 

The Report, authored by Peter Cooke Emeritus Professor, Centre for Automotive Management, University of Buckingham Business School, says that an improving economy and a better selection of ‘younger’ used cars in the marketplace has helped to stimulate demand. 

 


Click here for remarketing best practice and procurement insight

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee