Sales of used cars doubled in the UK in the second quarter due to the chip crisis
Second-hand car transactions in the UK increased in the second quarter of 2021 by 108.6% compared to the equivalent period in 2020, to over 2.1 million units, customers being “pushed” to the SH market by the global chip crisis .
The UK Automobile Manufacturers and Dealers Company (SMMT) announces sales of 2,167,504 second-hand cars in the second quarter of the year, up 6.6% from pre-pandemic levels in 2019, and it is also an effect of the lack of sufficient stocks on the new car market.
April saw an increase of 307.4%, followed by the best results for May and June since the beginning of reporting.
Demand for SH (BEV) and hybrid plug-in (PHEV) electric vehicles continued to grow during the period under review. Both categories of BEV and PHEV transactions tripled in the second quarter (353.9% and 349.8%, respectively) to 10,903 and 16,202.
Gasoline and diesel cars accounted for 96.4% of the second-hand car market in the second quarter, with 2,090,396 units. In addition, the increase in demand in general has led to an increase in sales of older used cars. Only 12.7% of all vehicles sold were three years old or less.
