‘Growing enthusiasm’ for used ultra-low and zero emissions cars
Consumers are taking advantage of the expanding range of alternatively fuelled vehicles available on the used car market. Figures released by the Society of Motor Manufacturers and Traders (SMMT) on Wednesday revealed that demand for hybrid, plug-in hybrid and electric vehicles increased 28.6% in the third quarter of 2018.
Throughout the quarter, nearly 30,000 used alternatively fuelled vehicles (AFVs) were sold with demand for pure electric cars jumping 8.3%.
Mike Hawes, SMMT Chief Executive, commented that the news was “encouraging” and showed “growing enthusiasm for alternatively powered vehicles”.
He added: “The right policies and incentives from government are needed to encourage new car buyers to take up the latest, cleanest petrol, diesel and electric models that best suit their driving needs.
The right policies and incentives from government are needed to encourage new car buyers to take up the latest, cleanest petrol, diesel and electric models that best suit their driving needs.
Mike Hawes – SMMT Chief Executive
“This would be the best way for these advanced technologies to filter through to the used market, helping to accelerate fleet renewal to improve air quality and meet climate change goals.”
The used market as a whole was down 2.1% in the third quarter in comparison to 2017 and is down 2.5% in total so far this year. The market has remained resilient when compared to new registrations, which are down 7.2%.
Petrol and diesel cars still made up more than 98% of used transactions in the quarter, although overall sales dropped 2.3% for petrol vehicles and 2.6% for diesels. The SMMT’s statement also noted that the residual value of these vehicles has risen, which could indicate that drivers are keeping their cars for longer before selling them.
The South East has continued to perform strongly and was the top region in the third quarter with 305,714 transactions.
The Ford Fiesta, which has been the top-selling vehicle in the new car market so far this year, was also the top used car in Q3 with 93,260 changing hands. The most popular vehicle colour was black, accounting for 431,000 of the cars sold during Q3.