Used car sales fall in the second quarter 2014, but MPVs and 4x4s remain in demand among car buyers

Used car sales fall in the second quarter 2014, but MPVs and 4x4s remain in demand among car buyers

MPVs and 4x4s replace upper and lower medium car models as the family car of choice

Nottingham, UK, 21 October 2014 — Experian, the global information services company, to-day published its Used Car Sales Index which found that sales fell by 3 per cent compared to the same quarter last year - from 1,804,871 in Q2 2013 to 1,743,715 in Q2 2014.

Within this small overall reduction, MPVs and 4x4s were the only car segments to experience in an increase in sales in the quarter, rising by 3 per cent and 2.6 per cent respectively compared to Q2 2013.

Key highlights from Experian’s used car data show:

• The biggest fall in sales came from upper and lower medium vehicles, with a 6 per cent fall in each of these categories compared to the same period last year.
• Superminis remain the most popular used car, but still saw a decrease in sales of 1.6 per cent.
• The focus for used car buyers was on newer used car models, aged up to three years old, as this was the only age group to see a slight increase in sales, rising by just over 1 per cent.
• Fuel economy and environmental factors continued to play a key role as sales of used electric cars increased by a significant 24 per cent and sales of used hybrid cars in-creased by just over 4 per cent.
• Sales of used diesel cars increased by nearly 2 per cent in Q2 2014 compared to Q2 2013.
• Greater London saw the biggest increase in sales of used electric cars – a 67 per cent rise compared to Q2 2013. The region also saw a 34 per cent increase in sales of hybrid used cars over the same period.
• Drivers in Yorkshire & Humberside and the East Midlands have been slower to be con-vinced of the benefits of going electric and have seen the smallest increases in electric and hybrid used car sales - 4 per cent in Yorkshire & Humberside and 6 per cent in East Midlands.
• Similarly, used hybrid car sales increased by just under 2 per cent in Yorkshire & Hum-berside and 10 per cent in the East Midlands.

Andrew Ballard, Principal Consultant for Experian’s Automotive business, said:

“Car sales are seasonal and used cars have availability considerations as well as demand, so the very slight 0.4 per cent decline in sales figures in Q2 compared to the previous quarter is not a surprise as people can tend to replace their cars at the beginning of the year. What is evident, however, is that the demand for MPV and 4x4s is continuing to grow each quarter. For many people these cars fulfill the need for safer, larger family cars as well and being a lifestyle choice. For others, a 4x4 is a statement car with a much wider range of smaller more affordable models being produced that are now finding their way into the used market. Understanding where the demand is in the country and what the needs of those car buyers are will help organisations have more meaningful conversations with their customers.”

Data Tables

Source: Experian/DVLA

Source: Experian/DVLA

Source: Experian/DVLA

Source: Experian/DVLA

-ENDS-

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Miss Serj Heera
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Email : Serjeet.Heera@experian.com

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group 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 March 31, 2014, was US$4.8 billion. Experian employs approximately 16,000 people in 39 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.