6 November 2014 - BCA Used Car Market Report 2014 overview
Headline figures – year-on-year
New and used car sales recovery continues
Strong new car sales and higher used car volumes resulted in 9.7 million car sales in 2013, the highest volume since 2006.
The used car market
Used car sales volumes returned to the pre-recession level of 7.4 million in 2013. Used car market value climbed by £4.6 billion to an all-time high of £42.7 billion last year.
Dealers’ used car volumes
Dealer volumes rose 5.1% (209,000 units) to 4.28 million, representing a record 57.8% of the market.
Car Parc grows
The number of cars in the UK car parc rose by 400,000 units in 2013 as new car registrations rose and owners continued to run their cars longer. It is the first significant rise in 8 years.
Younger cars to become more plentiful
Improving new car volumes should begin to ease the long term shortage of 0-5 year old first-time used cars entering the market.
Nearly seventy-nine per cent of cars reach 12 years
The number of cars reaching their 12th birthday continues to rise, to 78.8% – while 41.6% now make it to the 15-year mark.
Factors driving searching for a used car
Three out of five used car buyers are motivated most by ‘price range’, with two out of five by ‘brand’.
Which used car retailer to deal with?
When choosing a used car retailer, the ‘right car at the right price’ was the most important factor (39%)
Where to buy the next car?
The number of car owners looking to do business with a ‘franchised dealer’ rose one point to 49% this year, with 46% hoping to trade in their current vehicle. 16% will buy from an ‘independent used car retailer’ and 9% from an ‘Internet trader’.
What type of car to buy next?
A used petrol car is the most popular choice at 38%, followed by a used diesel at 19%. 3% will buy a used hybrid and 1% a used alternative fuelled (electric) car.
Buying a car in the next 12 months?
The number of car owners indicating they would ‘certainly’ or ‘quite likely’ buy a car in the next year was
flat at 14% in this year’s survey.
For a full copy of the Report, interviews or further information please contact:
BCA, Head of Public Relations Department, Blackbushe Airport, Blackwater, Camberley, Surrey GU17 9LG.
Mobile: 07710 365023 Email: email@example.com