Dealers smash used car sales records in Q2
New data from Experian shows that used car sales reached nearly 1.9 million vehicles between April and June this year, increasing at their fastest rate for almost ten years, Automotive Management online has reported.
In the second quarter of 2015 there was a 7.3% increase in sales compared with the same period in 2014, said the information services group – the biggest rise since Experian records began in 2005.
During the period some 1.87 million used cars were sold – the highest figure since the second quarter of 2008 – against the 1.74 million that were sold in 2014's second quarter.
The greatest increase in used car sales was seen in the North and the Midlands, but sales rose across Britain. The smallest increase was in the South West, where transactions rose 3.8%.
Older cars proved popular over the period: sales of cars aged nine or more years old surged by 11%, while sales of those aged between six and nine years dropped by 5%.
Experian named the top selling used car as the Ford Fiesta, with dealers shifting more than 84,000 of these in the second quarter of 2015.
The next most popular cars were the Ford Focus and Vauxhall's Corsa and Astra (which make up a large proportion of vehicles on the road and consistently dominate the new car registration figures).
Andrew Ballard, Experian automotive director, said motor traders will be encouraged by the fact the used car market is beginning to keep pace with new registrations, which rose by 9.3% last year according to the SMMT.
"Attractive finance deals have been a big factor in encouraging people to change cars, whether for new or used," he explained.
These deals usually apply to newer used cars, Ballard added. Car traders can make used cars more attractive by building trust – such as displaying a provenance check alongside the vehicle listing. Helping people plan for the monthly cost of car ownership by offering warranty packages and service plans can also help dealers close a transaction, he concluded.