Used car sales down -12% in Q3, first time sub-2 million since 2015

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The UK’s used automobile market fell for the second consecutive quarter this yr, declining -12.2% over the three months of July to September.

Some 1,785,447 autos modified fingers, the primary time that quarter three transactions have dipped under two million since 2015.

The market was hit by semiconductor shortages. Within the yr to this point, gross sales at the moment are down -9.7% to five,319,482.

Used battery electrical car (BEV) gross sales bucked the development, nonetheless, with Q3 reflecting progress within the electrified new automobile market as exercise rose 44.1% to 16,775 transactions, including as much as 48,032 within the yr to this point.

The marketplace for used hybrid electrical autos (HEVs) additionally grew, up 2.5% within the quarter with 41,479 automobiles discovering new homeowners, taking the yearly complete to this point to 119,722. Plug-in hybrid (PHEV) transactions, in the meantime, fell -5.8% to 13,899 in Q3, although they continue to be up 7.1% since January at 44,724.

Mixed transactions for electrified autos reached 4% market share within the third quarter, up from 3.3% a yr earlier than.

Used petrol and diesel car continued to dominate, nonetheless, totalling 1,708,299 transactions in Q3 with petrol taking the lion’s share of the overall market at 57.1%.

SMMT CEO Mike Hawes mentioned: “Given the quick provide of latest automobiles due largely to sustained chip shortages, a declining used automobile market comes as little shock, though it’s nice to see a rising variety of used consumers in a position to get into an electrical automobile.

“The demand is clearly there and to feed it we want a buoyant new automobile market, which suggests giving consumers confidence to speculate.

“Subsequent week’s Autumn Assertion is a chance for the federal government to make a long-term fiscal dedication to zero emission motoring, together with satisfactory public charging infrastructure, which, particularly given the financial headwinds, would go an extended approach to stimulating the market and delivering each financial and web zero progress.”

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