James Wilson, who is at the helm of operations for the popular used car platform Motorway.co.uk, commented: "It’s promising to see another year of growth for the used car market.
Ensuring ongoing growth, however, means maintaining that affordability, along with supply, which requires meaningful fiscal incentives to stimulate consumer demand for new EVs and removing the VED expensive car tax disincentive that risks dragging down used EV affordability for years to come.".
James Hosking, managing director of AA Cars, said: "The used car market is on a roll, celebrating its eighth consecutive quarter of growth and record demand for pre-loved EVs.
Mike Hawes, SMMT chief executive, commented: "The used car sector’s 25-month growth streak is good news for fleet renewal and for consumers benefiting from the greater choice filtering through from the new market.
They pointed out that the removal of EVs’ exemption from vehicle excise duty (VED) and the expensive car supplement starting April 1 is "likely to impact on the used market" by "drastically increasing ownership costs" for the first six years.
