As the swing towards second-hand cars looks set to continue, used vehicle specialists are gearing up for a bumper year ahead. Experts at online used car retailer Cazoo said used car sales increased by 17% between January 2021 and January 2022. The average price of a used car leapt by 44% to just under £17,000 as consumers surged to replace their cars, according to Cazoo Data Services.
“Part of the improved demand is due to the lack of new car supply, but with used car sales volumes for 2021 at an unexpected 7.5 million units, there have clearly been other factors at play that have helped boost sales,” says Rupert Pontin, Head of Data Communications at Cazoo.
Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.