The used car market carried some real momentum into the new year off the back of a very strong 2024, and it’s gathered even greater pace over the last few months despite further political and economic turbulence. Retail prices are rising, cars continue to sell at record speed, and as reflected in the more than 258 million visits to our platform over the quarter, consumer demand remains very robust.

Key spokesperson

Ian Plummer

Commercial Director

CONNECT

“Although the industry will face some headwinds over the coming months, I’ve no doubt the market will continue to demonstrate its huge resilience and may well already be on track to grow beyond our earlier prediction of 7.7 million sales this year.

“The quarter saw another impressive growth spurt for the maturing used electric market, as more stock, more choice, and greater affordability than ever fuelled consumer appetite. Over the last 12 months we’ve seen the volume of second-hand electric cars increase 54%, largely due to ex-lease vehicles returning to the industry. With supply only set to intensify, pressure on prices will continue, and with two in five used EVs already priced below £20,000, the second-hand market will become ever more attractive for buyers eager to make the switch.”