New model supply remains low in semiconductor chip shortage
The UK used car market boomed in the second quarter of this year, according to figures released on Tuesday by the Association of Auto Manufacturers and Traders (SMMT).
In the second best quarter of history, the market rose 108.6%.
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Over the past three months, 2,167.504 used cars have been sold, up 6.6% compared to the same period in 2019.
Over the last quarter, April, May and June saw significant growth, up 307.4%, 9.9% and 4.6%, respectively.
Automakers around the world are being forced to lower production levels as a result of a global shortage of semiconductor chips.
At the same time, as restrictions eased, people remained cautiously using public transport, but demand for private cars saw a resurgence.
Demand for used electric and hybrid vehicles increased between April and June, but transactions were primarily made up of gasoline vehicles.
“We are pleased to announce that we are committed to providing a range of services and services to delivering the most innovative and affordable experience,” said Mike Hawes, CEO of SMMT.
“As the supply shortage continues to affect the new car market, more drivers are turning to used cars and with people who are wary of public transport when they return to work. The need for personal mobility is increasing.”
“The buoyant used car market is necessary to maintain strong residual value supporting new car deals. We are currently looking at similar rebounds to new car sales to ensure immediate air quality and carbon emissions. And we need to accelerate the fleet updates needed to achieve continuous improvements.”
