Used car sales hit lowest level since 2000

 Used car sales fell in 2009 to their lowest point since 2000 as buyers took advantage of scrappage deals to buy new models, according to the latest data from Experian, the global information services company.

Annual sales fell by 5.7 per cent during 2009 to 6,798,864 used cars. The last time the used car industry experienced similar performance was in 2000, when 6,713,269 used cars were sold.

Retail and private
The figures are complied from the DVLA’s change of ownership records and include all retail and private sales.

Used car sales had been falling during each quarter of the year, with Q4 seeing a drop of 5.9 per cent compared to the same period in 2008. Q4 sales were also down 15.7 per cent compared with Q3.

Scrappage impact
“The recession and the scrappage scheme have had a big impact on the used car market,” said Kirk Fletcher, managing director for Experian Business Information and Automotive.

“Consumers who would have normally bought a used car were now considering a cheaper new car through the scrappage scheme. This resulted in smaller new cars moving into a price range that had previously been occupied by used cars.

“The scrappage scheme has also affected the number of used cars available for sale. Normally, when a new car is bought, a used car inevitably comes onto the market. However, with the scrappage scheme, the part exchange vehicles have been scrapped. Furthermore, the recession has resulted in people holding onto their cars for longer, which has also affected the choice of used cars on the market.