UK used car market posts record sales performance in Q1 0

UK-used-car-market-posts-record-sales-performance-in-Q1The first quarter of 2017 saw the UK used car market post record figures for the amount of vehicles sold.

Figures released by the Society of Motor Manufacturers and Traders (SMMT) showed that 2,133,956 used cars were sold in the opening three months of the year, a rise of 3.4% more than the same period in 2016. Petrol and diesel sales grew by 1.6% and 5.6% respectively.

More motorist than ever before purchased the wide range of alternatively fuelled vehicles: hybrid, electric and hydrogen entering the used market, and registrations rose 43.2% to 21,320 units. This denoted a market share that rose from 0.7% in 2016, to 1% in 2017.

The largest segment was the superminis, accounting for more than a third of the market. The fastest growing was the mini segment – sales up by 13.2%.

The best selling colour remained silver – 463,959 were shifted, but this did also account for a 2.1% fall in sales – possibly marking a fall in popularity.

The largest growth in this segment was white cars – a 17.1% growth.

Mike Hawes, SMMT chief executive, said, “A buoyant used car market combined with strong residual values is good news for the sector, with motorists benefitting from the wide range of models and high-tech safety and connected features entering the market.

“Diesel cars remain as popular as ever, with consumers now able to take advantage of the low emission Euro 6 diesels available in the used car market. It’s also positive to see sales of used electric and hybrid vehicles rise, reflecting what we have seen in the new car market.”

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