Experian reports that sales were down 3.4 per cent during April to June.
London is the only area where new sales increased, by 3.6 per cent. However, used 4×4 sales began to slide there, by 2.3 per cent.
It is the used MPV sector that is benefitting. Countrywide sales increased by 12.2 per cent – and, in London, the increase was 17.4 per cent.
Continuing its London-centric theme, Experian also noted further trends:
• Mini-segment sales up 6.6 per cent
• Used diesel car sales up 10.1 per cent
• Used German car sales up 2.2 per cent
• Used Vauxhall car sales up 0.4 per cent
Interestingly, the rest of the country recorded a less than 1 per cent rise in used diesel sales. And sales of used Vauxhalls fell in every other location apart from London.
Kirk Fletcher, MD of Experian’s automotive division, said: ‘Sales of used cars in the capital did not suffer as badly as other parts of the country. However, June’s figures revealed the start of what dealers have already identified as a downward trend for the rest of the year.
‘Up until now, used car buyers in London had remained the biggest 4×4 fans. The significant increase in the sale of used diesel cars, plus rising sales in the mini segment in June, highlights that Londoners are not immune to the rising costs of running a car.
‘It is vital that used car dealers closely monitor trends in the marketplace, to help them capitalise on motorists’ shifting priorities, and understand the factors driving their purchasing decisions.’