New and used car sales rise ‘big opportunity’ for garages

8 August 2024  

Latest figures showing continued growth in the UK’s new and used car markets presents a huge opportunity for workshops in terms of upskilling and services, the Society of Motor Manufacturers and Traders has told Aftermarket.

SMMT confirmed today that the UK used car market has grown for the sixth consecutive quarter, rising 7.2% in the second quarter of this year, with increasing numbers of buyers switching to battery electric vehicles.

The figures came just days after SMMT reported the UK new car market rose by 2.5% in July, representing two years of consecutive growth and marking the best performance for July since 2020. Nearly 148,000 new cars hit the roads.

Peter Lawton, SMMT head of member sections, told Aftermarket: “Sustained growth in new car sales is bringing more of the latest generation electric, connected and driver assistance technologies onto our roads and into vehicles all across Britain.

‘Robust’

“There is a huge need and opportunity for workshops to keep on upskilling and expand their services while also maintaining millions of conventional vehicles to keep Britain on the move.”

According to the SMMT, there were an additional 131,128 sales in the used car market in the second quarter of this year compared to the same period in 2023.

Nearly 47,000 battery electric vehicles found new owners between April and June, a rise of nearly 53% resulting in, at 2.4%, the highest ever share of the market, up from 1.7% on the same period last year.

Meanwhile, the UK’s light commercial vehicle market dropped 8.5% in July with 24,689 vans, 4x4s, pickups and taxis joining the road, according to the SMMT. However, SMMT said the overall market remains robust, with registrations up 2.7% year to date to become the best first seven months since 2019.