Motor Trade Insurance

2021 Sees Rise In Used Car Sales

February 8, 2022 by mti

Motor traders will find it interesting to read that the number of used cars sold here in the UK in 2021 was greater than the number of cars sold in 2020. However, this probably does not come as a surprise considering the pandemic.

According to the Society of Motor Manufacturers and Traders (SMMT), the number of second hand cars sold in 2021 amounted to 7.530,956 whereas in the previous year the figure was 6,752,959. That is an increase of 11.5% and will no doubt come as welcome news to those of you working within the motor trade industry.

However, in the last quarter of 2021, there were 1,641,234 used cars sold whereas in the same quarter of 2020 there were 1,693,338 used cars sold – a drop of 3.1%. It is to be hoped that there is a turnaround in the first quarter of 2022 and in subsequent quarters.

In 2021, there were 4,230,540 petrol used cars sold, 3,046,751 diesel used cars sold, 134,653 hybrid used cars sold, 54,115 plug-in hybrid used cars sold and 40,228 electric used cars sold.

The top 5 selling used cars in 2021 were: –

  1. Ford Fiesta                              326,436
  2. Vauxhall Corsa                        262,448
  3. Ford Focus                              251,265
  4. Volkswagen Golf                    247,919
  5. Vauxhall Astra             200,911

The 5 most popular colours were: –

  1. Black                                       1,625,735
  2. Silver/Aluminium                    1,284,498
  3. Blue                                         1,254,938
  4. Grey                                        1,175,810
  5. White                                      1,029,879

Motor traders will be hoping that they have a successful 2022 with regard to the sale of second hand cars. This may also have some benefit to the new car market here in the UK. Car sales also impact upon other parts of the motor trade industry such as servicing, MOTs, replacement tyres and parts businesses.

If you are a motor trader and your existing motor trade insurance is shortly coming up for renewal why not get in touch with us to obtain a no-obligation, competitive quotation.  We look forward to hearing from you.

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