CAR sales in the UK last year broke a 12-year record with the value of new and used cars sold leaping to £88.5Bn up from £79.4Bn.
UK car sales record
- Combined new and used UK car sales value reach £88.5Bn in 2014;
- Highest record of car sales since 2003.
According to figures released by BCA in association with the Centre for Automotive Management, University of Buckingham, car ownership is also on the rise, from a five-year low of 69% of households in 2014 to 75% in 2015 and 12% of motorists are likely to buy a car in the next 12 months.
“The 25th edition of the BCA Used Car Market Report provides valuable perspective on this important part of the UK automotive industry”, explained Spencer Lock, group managing director, BCA.
“Used car market values rose to record levels, as did the combined value of new and used cars sold. The combined market churn of 9.7M cars was one of the highest figures on record – only 2003 recorded a higher volume in recent years.”
Lock added: “The shape of the used car market is likely to change as the new cars sold in the last three or more years start to feed into the sector in greater volumes.“
