The start point for the best source of fleet information |
Used car market sees annual sales increase despite pressure on stock, Indicata reports
Date: 24 January 2022 | Author: Sean Keywood
UK used car sales increased in 2021 despite falling stock levels, according to analyst Indicata.
It said that sales in 2021 were not only 15.3% up on 2020, but also 0.8% up on pre-pandemic 2019.
However, there was a 19.3% month-on-month fall in sales in December, which Indicata said was in line with the normal market slowdown towards the end of the year.
It said this helped stock levels increase by 2.5% from December to early-January, with signs some vendors held back used cars to sell this month.
However, it warned this will be a short-term measure, with the global semiconductor crisis looking set to restrict new car production for many more months to come.
Indicata UK group sales director Jon Mitchell said: "Stock levels have certainly improved very slightly moving into January, but we expect demand to continue to exceed supply and for prices to remain very high.
"Used diesel cars continue to sell quickly despite the continued focus on EVs and hybrids. There is a strong market in place for used diesels especially in areas not affected by the [clean air zone] regulations."
