Commentary | Q3 Used Car Transactions

“These figures mark a major milestone for the market. Year-to-date, we’re tracking very closely behind the same period in 2019, and we’re on target to reach the highest volume of combined new and used car sales in six years. The used market is firmly returning to normal, and if it wasn’t for the lingering impact of the pandemic and the reduced supply of stock due to the significant supply chain disruption, I’ve no doubt it would be even further ahead. It’s testament to its huge resilience, and the unwavering demand for car ownership, which we can see in the near quarter of a billion visits to our platform during Q3 alone.

Key spokesperson

Ian Plummer

Commercial Director

CONNECT

“While the overall used car market is resilient, the Government’s proposed tax on electric vehicles will likely reverberate across both new and used cars. Over recent months, demand for used EVs has surged on Autotrader, particularly for the more affordable 3-5-year-old models. As we’ve seen consistently on the road to 2030, drivers respond very positively to incentives and have often shied away from EVs when things like energy prices have risen in past years. Anything that puts up running costs may well risk the impressive and hard-earned momentum in consumer demand.”