Ford Fiesta was the best-selling used car with 326,346 transactions as well as the ranked top in the most stolen cars in 2021. Let’s see the analysis of market growth and advice for the used car buyers.
SMMT Analysis of Used Car Sales Growth
According to the SMMT (Society of Motor Manufacturers and Traders), car sales are greater than they were during the pandemic, when most businesses were hit.
During the year 2021, more than 7.5 million used cars were sold. The reason for this is because there is a global shortage of microchips, which drives up demand for used cars. Vehicles moving to the dealer during the time of the pandemic could take 30-60 days to sell.
It now only takes a week. It's an excellent time for consumers who want to buy a used car or, more accurately, people who can afford to buy one.
The percentage of transactions based on fuel is rather surprising. The increase in this transaction indicates that people have begun to accept electric and plug-in hybrid vehicles. However, transactions for still-in-use gasoline and diesel power trains have climbed by 10.7% and 9.8%, respectively.
The car market, on the other hand, gives thumbs up to dealer and seller sales. As a result, does the same rule apply to used car buyers? Only a few people are pleased with the new cars, and several are still trying to keep their vehicle running!
Drivers Continue to Disregard the Necessary Checks
Despite this, consumers continue to receive lemon cars as a result of failing to do the necessary inspections. It still causes purchasers to overspend on large garage expenses and fail to keep track of their purchases.
According to an AA survey of over 15,000 drivers, only 54% checked the MOT status and service history before buying a used car. Only a small percentage of people care to check the history of a vehicle. A vehicle history check is a better way to avoid buying lemon cars in the future.
Again, Stolen Car Records are Increasing
Almost 48,400 cars in 2021 were recorded by police as stolen which is 1600 more than the previous year, said by DVLA. The criminals targeting Range Rovers, BMW, Mercedes- Benz.
Did you know: In Britain, Increase of vehicle theft to 3%.
Car Buyers Can Benefit from Car Analytics.
Analyzing the vehicle history check reveals the outstanding finance on car as well as highlighting whether it has involved in any legal issues. It includes the insurer classified into write-off due to accident, vehicle theft and other issues. Only 36% of drivers are conducting such checks.
The survey tells only 40% of consumers is checking the car components. Like, windscreen, wipers, tyres and lights were working in good condition. The key point of analyzing this is buyers should keep mandatory for checking the vehicle MOT and the service history to conclude the vehicle health condition.