Used hybrid cars grow in popularity with drivers
Sales of used hybrid cars rose in May, reinforcing that they are becoming an integral part of the UK’s used car marketplace.
Data from Indicata shows used hybrid car sales were 8% up in May compared with April; the same percentage rise as petrol cars and just behind the 10% seen for diesel cars.
The firm attributed the rising popularity of hybrids to increased education by the industry and acceptance of them by drivers. It also warned that sales of pure electric used cars continue to be hampered by high prices in comparison to similar petrol and diesel models.
“We have seen hybrids hold their own in the market since the beginning of the year and this is a sign that consumers are content with putting them on a used car shortlist alongside petrol and diesel. That can be put down to increased education by the industry and acceptability from drivers. EVs will need to tread this same path over the coming years,” explained Jon Mitchell, Indicata’s group sales director.
Overall, the used car market saw demand rise 224.2% year-on-year in May compared to the same month during lockdown in 2020. This strong demand in May 2021, alongside reduced supply, helped push up average prices by 7.5% during May. And with the semiconductor shortage restricting new car supply, and in turn the volume of used cars coming to market, prices look set to remain very high for the remainder of 2021.
“In May we witnessed one of the biggest price rises in a single month that we have ever seen, and the market looks set to continue at this level. This has not impacted sales growth and the result is a shortage of used stock across the industry. This will continue throughout 2021, fuelled by the fall in manufacturer new car production,” said Mitchell.