Used car sales drop 15% as coronavirus wipes nearly 2 MILLION new and used car transactions from the books in 2020
- The used car sales fell to 6,752,959 models last year – a decrease of 1,182,146 compared to 2019
- The sale of used cars results in a 30% drop in registrations in 2020
- Trade bosses have already called it a “lost year for the automotive industry”.
- The effects of Covid-19 have been estimated to have cost the sector £ 20 billion
- SMMT also warned of a slowdown in sales that has delayed a move to cleaner vehicles
The British used car market fell 14.9 percent in 2020, which is an already bleak year for the automotive industry. These were new figures this morning.
Used engine transactions fell to 6,752,959 cars – a decrease of 1,182,146 from 2019, the lowest year since 2012, the Society of Motor Manufacturers and Traders confirmed Tuesday.
The trade organization said lockdown measures to combat the coronavirus pandemic and “tumultuous consumer and business confidence” had affected sales of new and used vehicles.
Since car registrations also fell by almost 30 percent last year, the car dealers sold a total of 1.9 million fewer vehicles than in the previous twelve months.
Used car slide: 1.1 million fewer used cars were sold in 2020 than in 2019, which is already a grim year for the automotive sector
Last month, the SMMT announced the enormous number of Covid-19 pandemics in the showrooms. The number of new registrations fell from 2.31 million in 2019 to just 1.63 million in 2020 – the biggest drop from a year earlier since World War II, a 28-year low in terms of total sales.
2020 has been described as a “lost year for the automotive industry” which cost the UK automotive industry £ 20 billion and resulted in a tax loss of £ 1.9 billion for the Treasury.
Mike Hawes, industry chief executive officer, said today’s numbers are “further evidence of the significant damage coronavirus has caused to the automotive sector.”
He added: “The priority now must be to allow dealerships to reopen as soon as restrictions are relaxed.
“This will not only help the second hand market recover, support jobs and livelihoods, and provide individuals with the personal mobility they need at a time when public or shared transportation is not possible, but also the newest and cleanest Vehicles can filter through to second owners and keep society moving. ‘
Used motor transactions fell to 6,752,959 cars – a decrease of 1,182,146 from 2019, making it the year with the lowest performance since 2012
Despite low used car sales for eight years, Superminis remained the most popular used vehicle with 2.2 million vehicles purchased, accounting for a third of all sales in the past year.
The Ford Fiesta was the best-selling used engine last year at 289,847.
Among the most popular colors, the largest number of black (1.4 million), silver (1.2 million) and blue (1.1 million) cars were purchased.
The Ford Fiesta was the best-selling used car and black was the most popular color choice
The trade organization also said sales of used alternative fuel vehicles had increased; Demand rose 5.2 percent in 2019 as more and more of these low-emission cars hit the used market.
Battery electric vehicle sales rose 29.7 percent, although only 19,184 used vehicles purchased accounted for 0.3 percent of total market activity.
Hybrid and plug-in hybrid sales rose around 5 percent, while diesel and gasoline transactions fell 15.5 percent and 15.2 percent, respectively, reflecting new registrations.