EV sales buck trend to jump almost 50% as overall used transactions slip to seven-year low
, a declining used car market comes as little surprise, although it’s great to see a growing number of used buyers able to get into an electric car. The demand is clearly there and to feed it we need a buoyant new car market, which means giving buyers confidence to invest.
James Fairclough, CEO of AA Cars, said that after a strong start to the year, the used car market was suffering due to supply problems and the changing economic atmosphere. He commented: “ Ironically the first factor holding back used car sales is something that boosted second-hand sales at the start of the year - problems in the supply of new cars. 12.
“The weakening economy is also taking its toll. As consumer confidence falls, double-digit inflation is eating into people’s disposable incomes and their willingness to buy big ticket items like a car.”
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