Used car sales fall year-on-year, says Experian
The fall in sales was led by the upper medium segment, which was down by 12.2%, followed by the multi-purpose vehicles (MPV) segment, which saw sales fall by 10.6%. The mini category, which includes the Daewoo Matiz and the Fiat Seicento, was the only segment to buck the trend and avoid year-on-year decline in sales.
Looking at make, all manufacturers saw a year-on-year fall in used cars. After Rover, Fiat saw the highest decline in used car sales, down 10%. The biggest increases from Q4 2009 to Q1 2010 came from Citroen, Renault and Peugeot.
In terms of fuel type, hybrid cars saw the most significant increase in sales (65%) when compared with Q1 2009. However, it was also the only fuel category that saw a decline since the last quarter (2.3%). Petrol-fuelled cars still dominate the market, with over 70% of sales.
In terms of age profile, it was the younger cars, aged between 0-3 years old, that saw the biggest increase in sales when compared to the last quarter (Q4 2009), with a 23.2% rise, but also the biggest decline compared to Q1 2009 (down 18.4%).
Analysis of the quarter-on-quarter picture shows that this rose in line with the seasonal trend. Experian’s data shows that Q1 figures were up 14.8% compared to Q4 2009.
Mark Wilkinson, head of sales for Experian Automotive, commented: 'Despite the VAT increase being delayed until January next year, challenges will continue to face the industry for the foreseeable future.
'With 2009 seeing some of the lowest sales volumes of the last ten years, and with the scrappage discount incentive at an end, a smaller supply of younger, good-quality stock will be available for the second-hand market. Retailers are likely to be reviewing stock profile more than ever. This means that they will be looking to maximise profitability from the stock available and that managing risk and avoiding vehicles with a chequered history will become a top priority.'For more of the latest industry news, click here.