Declines in used car sales continues

News release

Contact:
Natalie Hale
PR Executive, Business Information and Automotive
+44 (0) 115 992 2645 Tel
natalie.hale@uk.experian.com Email

Declines in used car sales continues

Used sports cars buck trend with increase in demand

Nottingham, UK, 14 December 2009 - Used car sales fell by 4.9 per cent during the period July – September (Q3) this year, according to the latest statistics from Experian^®, the global information services company.

The biggest casualties in the used car market during Q3 were the mini and lower medium segments, which saw sales fall by 5.2 per cent and 5.8 per cent respectively compared to Q3 2008.  This contrasts with soaring new car sales in these segments during Q3*.

The scrappage scheme is the reason for the decline, with new car sales of the mini and lower medium segments soaring in the last quarter.

Mark Nuttall, General Manager of Experian’s Automotive business, said: “Although demand for used cars over all has declined, cost savings and value for money are certainly still focusing the minds of car buyers.  Cars that are cheaper to run, such as electric, diesel and hybrid, are continuing to see sales rise.

“Used smaller were the most affected as buyers took advantage of the scrappage scheme and bought new.

“Used sports cars, however, are bucking the trend, with demand for diesel models in particular seeing a 75 per cent increase in sales.”

Segment
The only segments that saw a year-on-year rise in the third quarter were MPVs (3.1 per cent), sports cars and luxury cars (0.3 per cent increase).  The luxury segment was the only one to see a year-on-year and quarter-on-quarter increase in sales.

The used sports segment saw the highest year-on-year increase with an 8.1 per cent rise – the first increase during Q3 for this segment over the last three years – but the second highest quarter-on-quarter decline (down 7.8 per cent).

Fuel
The rise in sales of electric and hybrid cars continues, although the increase has not been as significant as in previous years.  However, there was a rise in sales of used diesel cars which saw a 4.1 per cent increase from Q3 2008.

Make
BMW was the only car make to see an increase in used car sales during Q3.  After Rover, Fiat was the make to see the biggest year-on-year fall in used car sales (down 12.7 per cent) and also the biggest quarter-on-quarter drop (down 7.1 per cent).  

The Vauxhall Corsa overtook the Ford Fiesta as the top selling used car during Q3, with over 75,000 being sold between July to September in 2009 and outselling the Ford Fiesta (Q3 2008’s top selling car) by 4.1 per cent.

Age
The biggest drop was seen on models up to three years old due to the shortfall in the number of these cars coming to market.

Source: Experian’s MarketView Online and the DVLA

Source: Experian’s MarketView Online and the DVLA

Source: Experian’s MarketView Online and the DVLA

Source: Experian’s MarketView Online and the DVLA

*Source: SMMT figures

ENDS