Used car sales reach five-year high

03 April 2014

The number of used cars sold in the UK last year reached its highest level since 2008, new data has revealed.

A report by Experian showed that the number of second-hand cars sold increased by 0.9 per cent in 2013 compared to 2012 this equated to a total of 6,806,198 vehicles changing hands. Notably, the number of vehicles ages nine years and older and the number of used hybrid vehicles sold saw the biggest rises.

These latest figures showing a surge in deals involving used cars should also act as a reminder to those in the industry to check their motor trade insurance policies cover this increase in activity. A firm, whether involved in the trading of the vehicles or conducting repairs on them, will have to make sure that their policy covers them to work on a larger number of vehicles and, moreover, covers them to work on the increasingly popular older models and hybrid cars as well, should they wish to exploit these thriving markets.

Specifically, the number of older cars being bought noted a significant rise; car models aged nine years or older saw sales figures rise by six per cent in 2013, making it the most popular age category. Sales of cars aged three to six years, however, fell by 4.4 per cent. Notably sales of hybrid cars were up by just under 32 per cent last year, with electric cars also seeing a sizeable sales uplift: 20.2 per cent.

The most popular used car being bought was, for the second year running, the Ford Focus, with 312,221 sales of this model being recorded. The Ford Fiesta and Vauxhall Corsa came second and third respectively.