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.”
Full report from Experian here…Used car sales figures Q3 2009