Used car demand continues to rise
Demand for used cars is 15% higher than it was at this time last year, coinciding with a decline in sales of new cars.
This is according to new data from AA Cars, the AA’s used car website.
It found that drivers’ interest in used cars spiked to 9.1% above pre-pandemic levels when forecourts re-opened in June, but the new analysis shows that demand has continued to pick up since then. Searches on the AA Cars platform in September were on average four per cent higher than they were in June — with some areas, such as Glasgow, seeing demand rise by almost a third (32.2%).
Searched for used vehicles was 15% higher than the level recorded in September 2019.
Meanwhile sales of new cars fell by 4.4% in September compared to the same month in 2019, plummeting to the lowest number of new registrations in two decades, according to SMMT data.
James Fairclough, CEO of AA Cars said: “The sustained increase in demand since the summer is positive news for the used car market, which endured a big decline in sales during lockdown.
“The used car market continues to offer an enormous amount of choice to drivers at all price points, and changes in commuting habits may be leading more people to purchase a car so they can avoid public transport. The large range of affordable cars on the second-hand market means that drivers who need a new or replacement vehicle, but also have concerns about job security or the state of the economy, can easily find one to suit their budget.”
