Q3 2014: Used car sales reach seven year high
Used car sales rose by 2.6% in the third quarter of last year compared to the corresponding period in 2013, reaching the highest sales figures since 2008, according to Experian.
The global information services company recorded 1.86 million used car sales in Great Britain between July and September last year.
Used cars aged nine years or more saw a 7.1% year-on-year increase in the third quarter of 2014, while 4.3% more used cars aged up to three years were sold in the same period.
On the other hand there was a drop in transactions of vehicles aged between three and six years (3.4%) and six and nine years (3.9%).
The highest increase in used car sales was witnessed in the north west of England, where 5.8% more cars were sold in the third quarter of 2014 compared to the same period in the previous year.
Andrew Ballard, strategy director at Experian Automotive, said: “More people are considering changing their car, as demonstrated by the strong performance of new car registrations throughout last year. But our data shows it’s not just new cars which are catching the eye – motorists aren’t scared of cars which have been on the road for nine years or more, probably because they are often more affordable.”