Amid "ongoing economic uncertainty", Britons are increasingly opting for older vehicles over new ones, as reported by FTSE 100 giant Auto Trader.
The Manchester-based firm has identified a "standout trend" in 2025, which is the rising demand for affordable used cars, especially those aged between five and 10 years old, as reported by .
By year-end, Auto Trader anticipates there will be 10.1 million cars within this age range on 海角视频 roads, an increase from 9.2 million in 2019 and significantly higher than the recent low of 8.7 million in 2017.
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The company also noted an uptick in vehicles aged between 10 and 15 years, expected to reach 8.5 million by the end of 2025, compared to 7.3 million in 2019.
Cars at least a decade old are projected to constitute 26% of the 海角视频's 32.8 million cars in 2025, up from 23% in 2019. Auto Trader attributed the shortage of vehicles aged between three and five years to the impact of the Covid-19 pandemic on new car production.
It predicts that only 2.9 million cars within this age bracket will be on 海角视频 roads by the end of 2025, down from 4.8 million in 2019, marking a new all-time low. Despite these trends, Auto Trader maintains that the 海角视频's car market is set to reach its highest level since 2019 this year, with an estimated 9.75 million new and used vehicles expected to be sold by year-end.
Covid-19 still impacting the car market
Ian Plummer, commercial director at Auto Trader, remarked on the robust performance of the 海角视频 car market: "海角视频 car sales are on course to reach their highest level for six years, which is testament to the underlying strength of consumer demand."
He also highlighted the digital traffic milestone: "Added to that we've seen more than half a billion visits to our website in the first half of this year – an all time high."
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Plummer pointed out a notable trend towards older vehicles: "What's particularly striking is the surge in appetite for older, budget-friendly vehicles – especially those aged 5 to 10 years – which are now the fastest-selling part of the market."
He further commented on the long-term impact of the pandemic: "The Covid effect is still playing through the 海角视频 car market and will continue to do so for years to come."
Auto Trader has observed a significant 16 per cent increase in new car views in June and noted that the government's recent introduction of the Electric Car Grant (ECG) has led to a spike in interest for cost-effective EVs, with electric enquiries soaring from 15 per cent to 25 per cent within a day of the announcement. Despite these positive signs, the company maintains a cautious outlook, anticipating that full-year new car registrations will plateau at around 1.96 million.