Signs of recovery in the UK's used-car market

USED-car sales grew by just over four per cent in the first three months of 2023, following three consecutive quarters of falling figures. However, there's little sign of high prices easing as more cars change hands.

- Chris Rosamond

According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), a total of 1,847,149 used cars were sold in the first quarter of this year, compared with 1,774,351 in the same period in 2022. The SMMT says that growth in the new-car market as post-pandemic production delays unwind has in turn improved the availability of second-hand stock. However, the number of used-car transactions is still almost nine per cent below the levels recorded before the pandemic. Used EV sales over the quarter have increased slightly to 1.4 per cent of the market - up from 0.9 per cent in 20