The UK used car market has experienced significant changes in recent years. Understanding current trends can help you make informed decisions about when and how to sell your vehicle.
Current Market Overview
After the unprecedented price increases seen during the pandemic years, the used car market has begun to stabilise. New car production has recovered, increasing the supply of nearly-new vehicles entering the used market.
Key statistics:
- Used car transactions remain robust despite economic pressures
- Electric and hybrid vehicles are seeing increased demand
- SUVs and crossovers continue to dominate buyer preferences
- Average used car prices have moderated from 2022-23 peaks
What’s Driving Buyer Behaviour?
The Electric Transition
With the 2035 ban on new petrol and diesel car sales approaching, more buyers are considering electric vehicles. However, petrol cars remain popular for their practicality and lower upfront costs. Diesel vehicles have seen reduced demand, particularly in urban areas.
Cost of Living Considerations
Economic pressures have made buyers more value-conscious. Fuel-efficient vehicles and those with lower running costs are particularly attractive. This has also increased interest in car buying services, as sellers seek quick, reliable sales without the hassle of private selling.
Environmental Awareness
Younger buyers especially are considering environmental impact. Clean Air Zones in cities like Birmingham, Bristol, and Sheffield are also influencing purchasing decisions, with compliant vehicles commanding premiums.
What This Means for Sellers
Timing Your Sale
If you have a petrol car in good condition, now remains a good time to sell. As the market continues to normalise, waiting may not yield better prices. Electric vehicles, meanwhile, are holding their value well as demand increases.
Vehicle Type Matters
SUVs, crossovers, and practical family cars remain in high demand. Sports cars and luxury vehicles have a more niche market but can still find eager buyers.
Condition is King
In a stabilising market, well-maintained vehicles with full service history stand out. Buyers are becoming more discerning, making condition even more important for achieving good prices.
Sell Your Car with Confidence
Whether the market is rising or falling, professional car buying services offer certainty. At Berkshire Car Buyer, we provide fair valuations based on current market conditions, with guaranteed same-day payment and free collection.
Get your free valuation today and discover what your car is worth in today’s market.