Q2 finance demand strong in used sector
19 August 2018
Used car finance volumes saw healthy double-digit growth in Q2, despite used retail sales keeping flat around the 2.1m mark over the same period.
Data from the Finance and Leasing Association (FLA) showed 4% year-on-year growth for June volumes, to 119,903 vehicles. This brought Q2 volumes to 383,302 vehicles, up 10% year-on-year. Value of used business was up 11% to £1.4m for June and 16% to £4.5m for the quarter.
Volumes for superminis fell 2.6%. SUVs and executive models were up around 11% and 4.0% respectively. In contrast to the new sector, diesel was up 3.2%. AFVs saw growth of 25%, with just under 27,000 changing hands.
Ian Plummer, director at Auto Trader, said the results were proof of the “resilience” of the used sector and the diesel sales meant fuel efficiency was still guiding buyers’ choices, particularly for bigger-sized cars.
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