The Future of The U.K. Used Car Market

The Future of The U.K. Used Car Market The U.K. used car market is the largest in Europe, but it is in the midst of a significant change, as buyers and sellers move online and as greater information and pricing drive efficiencies. The value of used car sales in 2014 reached £45.1 billion - a year on year increase of 5.6% and an all-time high for the sector. 5.6% 45.1 billion Used Car Market Values by Source 50 45.1 45 42.7 40 38.1 35.7 35.0 35 34.2 34.3 32.8 30 28.3 26.5 26.8 25.2 25 20 15 10 7.9 6.8 7.4 6.9 7.0 5.6 3.4 3.8 3.0 1.7 1.5 1.9 2009 2010 2011 2012 2013 2014 1Other OPrivate ODealers O Total A Changing Competitive Landscape Competition in retail and wholesale will increase: Growth in direct to Car buying services will increase consumer sales FINANCING SALE Increased direct trade Increased online channels Online Channel Shift to Wholesale Online Buying The wholesale market has shown a year on year growth in numbers of online buyers. Total vehicles sold online (Simulcast) 30 25 20 15 10 0. 2009 2010 2011 2012 2013 2014 Year Designed & Developed In Public Interest By WITHNELL CAR SALES Quality used cars on finance Source:http://www.bvrla.co.uk/,http://www.strategyand.pwc.com/ http://www.british-car-auctions.co.uk/ www.withnellcarsales.com Percentage sold £ Billions