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Used Car Market Remains Buoyant Despite Minor Blip As Sales Totaled 8.1m In 2017

The UK’s used car market remained strong in 2017, dipping just -1.1% compared with the previous year as more than 8.1 million models changed hands, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Despite a -5.1% fall in the market in the fourth quarter, annual transactions were at their second highest level, following the all-time record set in 2016.

Reflecting trends in the new car market, smaller cars continued to be the most popular used buy, with superminis representing a third (33.5%) of all transactions, while demand for minis grew 4.3%. SUVs enjoyed the strongest growth, rising 9.5%. Apart from executive cars, up a marginal 0.02%, all other segments experienced declines.
In 2017, buyers continued to take advantage of the latest alternatively fuelled vehicles (AFVs), now increasingly available in the used market. Growth was driven by demand for petrol-electric hybrid cars, up 22.2% to 73,864, and zero emission electric vehicles, which rose 77.1%, with 10,199 changing hands in the year.
Despite a -4.3% decline, petrol retained its position as the most popular fuel type with a 58.0% market share, while used diesel car transactions rose 3.3%, with more than 3.3 million motorists (40.8% of buyers) investing in one.
Across the UK, the majority of used car transactions took place in the South East, with more than 1.2 million vehicles finding new owners in the region, followed by the North West and West Midlands. The UK’s best-selling used model remained the Ford Fiesta, closely followed by the Ford Focus and Vauxhall Corsa.

Silver remained the nation’s most popular used car colour, despite sales falling -6.5%, while black and blue took second and third places. White, at number five, posted the largest increase of any top 10 colour, rising 10.7% and reflecting the increased popularity of this colour as new, while green experienced the greatest decline in demand as -16.9% fewer buyers chose the colour.