Classic car owners may find it interesting to read that, according to the Society of Motor Manufacturers and Traders (SMMT), the number of used cars sold here in the UK in the third quarter of 2024 increased for the seventh quarter in a row.

According to data published by the above organization, used car sales increased by 4.3% when comparing the third quarters of 2024 and 2023. In the third quarter of last year 1,884,160 used cars were sold. In the third quarter of 2024 the number of second hand cars sold amounted to 1,965,811. That is an increase of 81,651.

A particularly interesting statistic was that the number of used electric vehicle rose by 57% to 53,423 cars. This is a big step forward. This sector now makes up for 2.7% of the market. It will be interesting to see if this sector continues to grow in future quarters.

The top 5 selling used cars in the UK in Q3 of 2024 were: –

1. Ford Fiesta 77,908
2. Vauxhall Corsa 64,681
3. Volkswagen Golf 59,380
4. Ford Focus 57,327
5. MINI 41,429

The top 5 colours of used cars sold in the UK in Q3 of 2024 were: –

1. Black 416,279
2. Grey 346,934
3. Blue 315,966
4. White 305,743
5. Silver/Aluminium 281,256

Whilst writing we thought we would also mention the figures for the number of new cars registered here in the UK. In November 2024 there was a slight drop in the numbers of new cars sold when compared with the same month last year. In November 2024 153,610 new cars were sold whereas 156,525 were sold in November 2023. That is a drop of 1.9%.

However, on a year to date basis to November 2024, in comparison to the same period in 2023 there was a slight increase with 1,811,992 new cars registered on a year to date basis to November 2024 compared to 1,761,962 on a year to date basis to November 2023. That is a rise of 50,030 new cars that equates to an increase of 2.8%.

There will no doubt be a number of classic car owners who are looking to change their cars that they also own for using every day to say commute to work. Whether they decide to buy a used car or a new car will depend upon a number of factors but the main one for many will be cost. As a compromise, some motorists will probably decide to buy a car that is say a year old that may still come with the remainder of a manufacturer’s warranty but will have come down in price in those early months due to depreciation.