The UK used car market performed strongly in March despite the usual disruption caused by new plate month, with new data from Brego showing stronger sales, higher stock volumes and improved speed of sale across the sector.
According to Brego’s latest Car Market Insight Report, used car sales increased by 14.1% in March compared with February, while used car advert volumes rose by 8.7%. New car registrations also improved by 6.6%, making March a positive month across both markets.
This is a strong result for used cars, as March often sees dealer focus shift towards new car deliveries and registrations.
However, the latest Brego data suggests dealers were able to maintain momentum in used car activity, supported by a greater flow of part exchanges and stronger consumer demand.
Private advert volumes rose by 16.3% during the month, while trade adverts were also up.
At the same time, average days to sale fell to 37.6, indicating a faster moving market despite the increase in available stock.
Drop in pre-reg adverts
The report also highlights a 6.2% drop in pre-registered adverts, even though tactical activity in the new car market increased towards the end of the month.
Average used car advert prices dipped by 0.2%, suggesting a mix shift towards older or lower priced stock.
EV activity also remained a notable feature of the market.
Used EV advert volumes increased by 11.5% in March, while Brego’s analysis points to stronger consumer interest in EVs as fuel costs rose during the month.
The March data also underlines the growing influence of Chinese brands in the UK market.
BYD took a 3.98% share of new registrations during the month, while the Chery Group reached 5.9%, a level of performance that is likely to feed through into used car supply over the next 12 months.
Rupert Pontin, head of insight and communications at Brego, said the data shows the sector delivered gains across key metrics.
He said: “March was a notably strong month for the used car market, particularly given the distraction that new plate month can create for dealers.
“What stands out in the data is that the sector managed to grow sales, improve stock flow and reduce days to sale all at the same time.
“That points to a healthy level of demand in the market, even against a more uncertain economic backdrop.”