Used Car Sales Thrive

Despite the worsening economic crisis, used car sales show no sign of deceleration.

Mark Carpenter, CEO of Motorpoint, said that he hopes this upward momentum continues into September as increasing new car registrations will ease the strain on the used and nearly-new car sectors and help to reduce prices.

He said: “It’s terrific to see there was a small growth in new car registrations in August and that supply is beginning to come through to meet the demand we all know is out there. However, August is traditionally a very slow month for new car registrations and so it’s likely we’ll see pretty much the same picture of supply struggling to keep pace with demand when we see September’s figures. In reality we’ll need the upward momentum to continue in September for the increase to be meaningful.”
Carpenter was also encouraged by the SMMT figures which show a huge increase (35.4%) in the number of registrations of battery electric vehicles (BEVs).

He added: “We all know that more and more people are choosing to switch to electric vehicles but there was some uncertainty about whether rising energy prices, which have been in the news so much of late, would have an impact. It’s great to see that’s not been the case and the same is true of the nearly-new market where we have continued to see strong growth in volumes despite rising electricity bills.”