Used car sales growth is ‘good news for independent garages’

LKQ Euro Car Parts CEO sees opportunities for garage owners

Used car sales growth is ‘good news for independent garages’
Photo: Bigstock

The UK’s used car market grew by 5.5 percent during the third quarter of 2023, with 1,884,160 secondhand cars changing hands.

It means the used car market has grown for the third consecutive month, according to figures published by the Society of Motor Manufacturers and Traders (SMMT).

Demand for electric vehicles doubled in the quarter, reaching a record market share as volumes rose by 99.9 percent to 34,021 units. Full electric vehicles now represent 1.8 percent of the used car market – up from 1 percent last year.

Mike Hawes, SMMT chief executive, said: “The used car market continues to grow strongly, with re-energised supply unlocking demand for pre-owned electric vehicles – the result being twice as many motorists switching to zero emission motoring in the quarter.

“Maintaining this momentum requires growth in the new car market, to boost supply to the used sector and cement this success. Equally important is the urgent need for charging infrastructure rollout, so that all drivers can have confidence in being able to charge whenever and wherever they need.“

Top 10 models in Q3 2023

  1. Ford Fiesta: 79,756 transactions
  2. Vauxhall Corsa: 61,290
  3. Volkswagen Golf: 58,928
  4. Ford Focus: 58,431
  5. Vauxhall Astra: 41,898
  6. MINI: 40,811
  7. BMW 3 Series: 39,762
  8. Volkswagen Polo: 36,398
  9. Audi A3: 31,496
  10. BMW 1 Series: 29,959

Responding to the sales figures, Andy Hamilton, CEO at LKQ Euro Car Parts, said: “A growing secondhand market is good news for independent garages. And EVs in particular are becoming increasingly accessible for motorists looking to switch.

“There has been a lot of talk about the potential impact of the ban on new ICE vehicles being pushed back, but today we can see that demand for EVs remains strong, as drivers look to take advantage of lower running costs and other in-life benefits.

“Stronger political will is needed if we’re going to maintain this momentum. Drivers of used EVs shouldn’t be paying over the odds to service and repair them in the dealerships, so it’s vital that independent garages can do the work.

“Garage owners need support with the cost of retooling and upskilling staff, and a willingness from OEMs to collaborate – not just on access to RMI data and coded parts, but also when it comes to refurbishing and repairing key components, to maximise the lifespan of an EV and realise the sustainability benefits fully.

“More widely, OEMs need support so they can keep feeding the market with new vehicles, and so that the oldest, most polluting vehicles can continue to drop out of the bottom. And it goes without saying that as a minimum, the rollout of charging infrastructure must keep pace with EV adoption for the technology to be viable at scale.”

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