Second-hand car sales soar in UK due to shortages of new models

Second-hand car sales soar in UK due to shortages of new models. Image - pixabay

Second-hand car sales have soared more than double in the last few months due to shortages of new models.

Second-hand car sales have more than doubled over the last few months due to a shortage of new models with Ford Fiestas, Vauxhall Corsas, Ford Focuses and Volkswagen Golfs being the most sought after. Black, silver, blue and grey being the most common colour choices.

One of the UK’s top ten car dealerships, Marshall Motors, said today, August 10, that it had recorded revenue and underlying profit in the first half of 2021.

Chief executive Daksh Gupta said the company had “seen exceptional market tailwinds in the used car market” as a shortage of computer chips reduced the numbers of new cars on the market.

“Ultimately what that has done is push used car prices up significantly,” he said on the BBC Radio 4 Today programme.

Gupta added that it is “difficult to call” how long the high demand would last “because the whole situation links to new car supply”.

“The position is unclear and many manufacturers are having to deal with very complex production challenges,” he added.

“We expect this disruption to go well into 2022.”

SMMT boss Mike Hawes said many buyers had turned to the second-hand market because of the shortage of new cars at a time of “increased need for personal mobility with people remaining wary of public transport as they return to work”.

The shortage of new models has been linked to a lack of parts when lockdowns forced production lines to stop, according to BBC News.


Thank you for reading, and don’t forget to check The Euro Weekly News for all your up-to-date local and international news stories.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Laura Kemp

Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features. Got a news story you want to share? Then get in touch at [email protected]

Comments


    Leave a comment

    Your email address will not be published.