Following fears the new ICE market may slow in the second half of 2024, due to potential sales restrictions from brands eager to meet ZEV Mandate targets, there are fresh hopes used cars could take up some of the slack for retailers.

Although Cox Automotive is maintaining its baseline forecast of 7.4m used cars sales in 2024, it is “cautiously optimistic” they could reach up to 7.7m by the end of the year.

The potential for the new car sales bounce to extend into the used car arena is behind this optimism, although Insight director Philip Nothard still believes 7.4m is the most likely outcome.

The latest Cox Automotive used car forecast will be published this morning (Monday 13 May).

* This topic will be discussed in the next Auto Retail Live Business Booster on 22 May. There are more details below and you can sign up here: