There was an 11.84% increase in used car transactions in London throughout 2021, according to Cargiant through analysis of SMMT data.
Thought to be a combination of lockdown restrictions easing, pent up demand and increased customer confidence, this increase is 0.3% higher than the rest of the UK which rose by just 11.5% in 2021 with a total of 7,530,956 units changing hands.
Overall, the UK used car market is still down -5.5% on the pre-pandemic five-year sales average as the impacts of the pandemic are still being felt across the country.
Taking a look at London specifically, 671,125 models changed hands in 2021 compared to just 600,095 in 2020 (a six year low) and used car sales still managed to rise above the last five years average of 667,263 despite the aforementioned issues that have faced the automotive sector.
