Used car sales hit 7.4 million units last year, the highest volume recorded since 2006 and fuelling a record market value of £42.7 billion, according to BCA’s Used Car Market report.

Strong retail sales dominated the picture, with dealers accounting for a record market share, as they increased their volumes year-on-year by 5.1% to 4.28 million, equivalent to 57.8% of the total. 

Private-to-private sales market share declined marginally to 38%.

Continued value growth saw the used car market value climb by £4.6 billion to an all-time high of £42.7 billion, outperforming the total new car market value by £6 billion.  

Used car data year-on-year

Used Car Volume

Used Car market value

Dealers used cars sold

Dealers share of used car market value

7.4 million ↑ 4.2%

£42.7 billion ↑ 4.2%

4.28 million ↑ 5.1%

76.8%  (£32.8 billion)

Average used car value

Average dealer car value

Average private-to-private car value

Average Age of cars on road

£5,764 ↑ 7.6%

£7,660 ↑ 9.8%

£2,465 ↓14.8%

7.7 years ↑ 1.0%

 

 

 

 

 

 

 

The Report, authored by Peter Cooke Emeritus Professor, Centre for Automotive Management, University of Buckingham Business School, says that an improving economy and a better selection of ‘younger’ used cars in the marketplace has helped to stimulate demand. 

 

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