The lockdown effect on the UK’s used car market has been laid bare by new figures released by the Society of Motor Manufacturers and Traders.
Just 6,752,959 used car transactions took place last year, a drop of almost -15% and the worst year for the UK used car market since 2012. With showrooms still closed, travel restrictions in place, and low customer confidence, there are no indications that the first quarter of this year will bring much relief to the battered market.
SMMT chief executive Mike Hawes commented, “The priority now must be to allow car showrooms to re-open as soon as restrictions are eased. This will not only help the used market recover, supporting jobs and livelihoods and providing individuals with the personal mobility they need at a time when guidance is against using public or shared transport, but it will also enable the latest and cleanest vehicles to filter through to second owners and keep society moving.”
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