2010 used car sales lowest for a decade

2010’s used car sales lowest for a decade

Nottingham, 29 March 2011 - The number of used cars sold in 2010 hit a ten-year low, according to from Experian^®, the global information services company.  The company’s data shows that 6,797,781 used cars were sold during 2010 - 1,085 fewer than in 2009.  The last low point occurred in 2000, when 6,713,269 vehicles were sold,

The Upper medium segment, which includes cars such as the Ford Mondeo and the Vauxhall Vectra, led the fall in sales with a 5.5 per cent drop since 2009. Sales of use Specialist Sports and Luxury vehicles also saw significant falls, by 3.56 per cent and 2.74 per cent respectively.

In contrast, the Mini segment – which includes the likes of the Daewoo Matiz and the Smart Fortwo – saw sales of used vehicles increase by 6.42 per cent. Sales of used vehicles in the SUV/4x4 segment also increased, by 6.61 per cent.

Alternative fuel models saw a steady increase in sales as petrol models bore the brunt of the downturn. While there were 79,263 fewer used petrol cars sold in 2010 than 2009,

Regionally, the West Midlands bucked the national trend with a 4.23 per cent increase in sales in 2010. In Scotland, however, sales fell by more than three per cent.

Joe Myers, Automotive General Manager at Experian UK and Ireland , commented: “The financial pressures drivers are under will inevitably have an impact on used car sales. Greater demand for more fuel efficient vehicles over recent years means that sales of smaller and alternative fuel vehicles tend to be holding up the best, as consumers are increasingly looking for more economical options given prices at the pump. 

“Despite this, the 4x4 segment saw the biggest increase in 2010. The 21.4 per cent year-on-year increase in Q4 sales was probably due to the bad weather the UK experienced.  Using the right mix of data and analytics, dealers can use insight into segments, regions, models and fuel types to make smarter stock decisions so they stay ahead of the competition.”

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: Experian’s MarketView Online and the DVLA

ENDS

Contact:

Natalie Hale 

0115 992 2645/07971 709274

natalie.hale@uk.experian.com

About Experian

Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2010 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil. 

For more information, visit http://www.experianplc.com.