UK economy critical to increasing used car sales
New research suggests that dealerships believe the greatest boost for used car sales in 2025 would be a stronger UK economy.
January’s Startline Used Car Tracker polled 329 consumers and 58 dealers.
It found that 62% say used car sales are directly impacted by the wider UK economy and consumer confidence in their own finances.
The results come after Chancellor Rachel Reeves promised to kickstart the economy and boost growth in a keynote address.
The research also found that 50% would like to see direct government support for used electric vehicle (EV) buyers and 38% back a relaxing of the Zero Emissions Vehicle Mandate (ZEV) targets.
Meanwhile, 36% want better stock supply, 31% are in favour of improved motor finance availability, and 19% have called for a reduction in business overheads such as rates and staffing.
Paul Burgess, Startline Motor Finance chief executive, said:
“Pretty much every indicator showed that there was a downturn in both the general economy and consumer confidence towards the end of 2024, and that appears to have weighed heavily on these results. Dealers seem concerned that this negative mood could be a drag on the used car market and really want to see some form of uptick for the New Year that changes the outlook.”
