CEO Update

How used cars will contribute to emissions targets

15 November 2019 #CEO Update

It was encouraging to see this week that used car sales have bounced back by 0.9% in the third quarter of 2019 after nine successive quarters of decline. It has been a volatile market in recent times, but we need to deliver the right conditions and policies to give buyers of both new and used cars the confidence to invest in the right vehicles for them.

If we’re going to make meaningful environmental gains in the coming years we will need to see more of the latest low and zero emission cars on our roads, filtering through to the used market.

There’s clearly a strong appetite for plug-in and hybrid models out there among used buyers, with a 13% increase in sales between July and September, and these new models are starting to appear on used car forecourts in greater numbers.

Diesel sales were up 1.4% in Q3 as buyers traded up to the latest Euro 6 models available for sale, with supply remaining high. We think it is important that drivers find the right powertrain for them, and diesel is clearly still the right option for many while petrol and alternatively fuelled powertrains will suit others.

We were also in Luton this week for a packed SMMT Regional Forum event that featured a number of speakers on topics ranging from the opportunities for automotive companies in the region to the latest developments on Brexit.

It was also a good opportunity to present our upgraded Automotive Supplier Finder to attendees – this free online platform helps match automotive buyers with suppliers to boost new business. We’ve already got nearly 10,000 companies listed, with preferential profiling of SMMT members which can make a difference when RFIs and RFQs are issued, but do sign up and make sure your company has the latest profile information.

Events such as Regional Forum take place regularly throughout the country, and are great opportunities to network and forge connections with other members. We would encourage you to make it along to events if you can. Regional Networking Midlands takes place on 10 December and the next Regional Forum is in Sunderland on 25 March 2020 – visit our regional events page for more details.

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