Used car volumes up 5.9% in Q2
The used car sector put in a strong performance despite a sharp activity in June, latest figures from cap hpi show.
Volumes rose by 5.9% in the second quarter of 2016 against the same period last year, reaching a total of 2,008,439 vehicles. However, figures for June 2016 show used volumes of 632,449, a rise of just 0.5% on the previous year.
Philip Nothard, consumer and retail specialist at cap hpi, said: “Despite large volumes of used vehicles available the market has remained steady through 2016, with the market following seasonal trends.
“And while June saw a sharp decline in activity, it should be noted that total volumes in the month exceeded those of June 2015. Additionally, 2016 remains 9.4% ahead of 2015 over the first half of the year, which is significant against a 2015 figure, only 0.54% ahead of 2014 at the same point.”
Cap hpi added that Black Book live reported an average decline of 1.6% in July, in line with usual seasonal trends.