The United Kingdom's secondhand car market is anticipated to witness substantial expansion in 2024, propelled by an increase in car availability and shifting consumer demands. Following a tough 2023, where new vehicle supply issues due to chip shortages and post-COVID disruptions affected the sector, 2024 is projected to be a period of recovery and stabilization​ (Grant Thornton UK LLP)​​ (EY US)​.

With producers boosting output to meet demand and maintain plant utilization levels, the wave of new automobiles is projected to boost the used car market as well. The sales of pre-owned vehicles are expected to attain 7.3 million cars in 2024, rising from an projected 7.05 million units in 2023. This growth, however, still lags behind pre-pandemic levels of 7.9 million units in 2019​ (Grant Thornton UK LLP)​.

One of the key automobile industry trends to watch is the price fluctuations of BEVs (BEVs) in the secondhand market. As tech developments persist and government policies develop, the sector for pre-owned BEVs may see considerable variability. The overall outlook remains cautiously optimistic, with the market steadily acclimating to emerging financial realities and customer demands​ (Grant Thornton)​.
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