Second-hand car sales drop due to lack of choice

Sales of second-hand cars fell sharply past twelvemonth arsenic less utilized models came onto the market, manufacture figures show.

A shortage of parts driven by Covid meant less caller cars were produced, and radical hung connected to their cars longer arsenic they waited to upgrade.

Some 6.9 cardinal utilized cars changed hands, down from 7.5 cardinal successful 2021, according to the Society of Motor Manufacturers and Traders (SMMT).

However, it said the concern was starting to ease.

The SMMT besides said income of second-hand electrical vehicles had bucked the trend.

At the tallness of the pandemic, car dealerships were closed and accumulation lines unopen down.

Then, arsenic the satellite began to unfastened up a shortage of machine chips - which are commonly utilized successful modern vehicles - caused further disruption.

That deed the caller car market, wherever income slumped to a 30-year debased successful 2022.

The shortage of vehicles fed done to the overmuch larger second-hand market. As a result, utilized car prices soared successful 2021 and person lone conscionable begun to stabilise.

According to car mag Autotrader, the mean terms of a utilized Fiat Panda was £5,765 successful January - up 18.7% compared to a twelvemonth agone - portion a Toyota Avensis outgo £5,825 - up 17.9%.

However, the terms of a second-hand Suzuki Vitara was £14,786 - down 9% - portion a Skoda Yeti outgo £9,893, down 9.4%.

More than six and a fractional cardinal utilized cars changed hands past year. While that's down connected 2021, and inactive good beneath the pre-pandemic level, it's inactive an awesome number.

Many radical successful this country, particularly those who unrecorded successful agrarian areas with constricted nationalist transport, request cars to get around.

Some accidental the caller question of strikes has made them much reluctant to usage nationalist transport arsenic well.

For those connected little incomes who request inexpensive transport, the proviso shortage has been a existent problem.

It has pushed up the prices of galore fashionable models astatine a clip erstwhile the outgo of surviving mostly has been rising fast.

Despite the wide slump successful second-hand car income past year, much utilized electrical cars changed hands, the SMMT said.

A grounds 71,071 utilized axenic electrical vehicles recovered caller owners - up 37.5% - portion income of second-hand hybrids and plug-in hybrids roseate by 8.6% and 3.6%.

Electric vehicles lone relationship for a tiny proportionality of the utilized car market, but Mike Hawes, brag of the SMMT, said the uptake of utilized electrified vehicles "demonstrates a increasing appetite for these models".

"With caller car registrations maturation expected this year, much of the latest debased and zero emanation models should go disposable to 2nd owners," helium said.

The astir fashionable second-hand exemplary sold successful 2022 was the Ford Fiesta, followed by the Vauxhall Corsa and Volkswagen Golf, according to the SMMT.

The astir fashionable colour was black, followed by bluish and grey.

However, the radical said immoderate buyers had been much adventurous, with 4,461 pink, 6,708 turquoise and 18,658 bronze utilized vehicles changing hands during the year.