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Used car market Vibrant Volvo sales
VOLVO bring good news to the motoring industry as it has reported that with sales of 48,520 in January, it means figures are up 2 per cent compared with the same month last year.
US sales reached 7,693 cars, up 8.2 per cent compared with January last year. The share of Recharge models accounted for 30.8 per cent of the total sales for the month.
LATEST FIGURES: UK used car transactions for the fourth quarter of 2022.
IT’S good news for the UK motoring industry as the results for UK used car transactions for the fourth quarter of 2022 have now been released.
“Against an uncertain economic and political backdrop, the used car market remains in good health,” confirmed Ian Plummer, Commercial Director at Auto Trader.
“The ongoing dearth in supply caused a softening on 2021’s exceptional performance, but the market closed 2022 in a strong position, and critically, carried some great momentum with it into the new year.”
Ian added: “January 2023 saw a record 80 million visits to our marketplace nearly 10 million more than a year ago and according to our data, a circa 8 per cent year onyear increase in used car sales across the market.
“2022’s EV boom is however at risk as our data shows demand for used electric vehicles has been dampened by high energy prices in the last few months. A surge in supply over the last year has resulted in five consecutive months of decline in used EV values.”
Sales of Volvo Cars’ Recharge models of fully electric and plugin hybrid cars increased by 31 per cent in January year onyear, accounting for 40.7 per cent of all Volvo cars sold globally during the month. The share of fully electric cars stood at 16.2 per cent.
European sales for January reached 21,436 cars, up 14.7 per cent compared with the same period last year. The increase was led by markets such as the UK, Italy and Belgium. Recharge sales, which in addition to fully electric cars also includes plug in hybrids, accounted for 59.8 per cent of the total sales in the region during the month.
