The United Kingdom's secondhand car market is anticipated to witness substantial expansion in 2024, propelled by an increase in car inventory and changing customer preferences. After a challenging 2023, where new car supply constraints due to semiconductor shortages and post-pandemic interruptions influenced the market, 2024 is expected to be a period of revival and stabilization​ (Grant Thornton UK LLP)​​ (EY US)​.

With makers boosting production to meet demand and keep up factory operation levels, the wave of new vehicles is expected to increase the pre-owned vehicle market as well. Selling secondhand cars are anticipated to reach 7.3 million units in 2024, up from an expected 7.05 million in 2023. This expansion, nevertheless, still trails before the pandemic numbers of 7.9 million cars in 2019​ (Grant Thornton UK LLP)​.

One of the key trends to watch is automotive indutry the price fluctuations of BEVs (BEVs) in the secondhand market. As technology improvements advance and regulations develop, the sector for pre-owned BEVs may see considerable variability. The overall perspective remains guardedly positive, with the market gradually adjusting to new economic realities and customer demands​ (Grant Thornton)​.
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