Used petrol car sales spike following Labour landslide election victory
Data collated and analysed by Marketcheck, the most significant source of data on the UK’s used car market, reveal a spike in the sale of used petrol cars in the month following Labour’s election victory on the 4th July, with the sale of used EVs remaining flat.
Taking an average of the four weeks immediately before and after the week of the election shows a 6.49% increase in the sale of used petrol cars. An average of 41,143 used petrol cars were sold each week before the week of the election, and 43,815 in the month immediately after. Used hybrids also saw a similar increase, with a 5.43% increase in sales. 5,379 were sold on average each week for the month before the election week, with 5,671 the following month.
Using the same methodology, EVs remained essentially at the same level, with only five more EVs sold per week in the month after the election week, with 3,107 sold before the election compared with 3,112 after.
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Average monthly sold volume before and after the week of the UK General Election |
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|
Petrol |
41,143 | 43,815 |
6.49% |
|
Diesel |
25,557 | 26,514 |
3.74% |
|
Electric |
3,107 | 3,112 |
0.16% |
| Hybrid | 5,379 | 5,671 |
5.43% |
Alastair Campbell, Marketcheck UK commented:
“These figures are perhaps surprising. They show a clear spike in the sale of used petrol cars immediately following the election, as well as an increase in both diesel and hybrid.”
“Most interestingly, despite rises across the board – EV sales remained flat, with almost zero growth. The reasons why are up for interpretation – but considering Labour’s vocal support for a 2030 petrol ban, although now softening, this may highlight that used car buyers were spooked into making a purchase immediately following Labour’s election win.”
“On the other hand, Labour’s strong support for the electrification of the car market might suggest a boost in the sale of electric vehicles, which did not come to fruition.”
“Marketcheck will continue to analyse the used car market, which is sure to continue telling a fascinating story of consumer confidence and the real-world political impact on purchasing decisions.”
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About Marketcheck:
Marketcheck are the best source of UK automotive data. We collate, enhance and manage more data on the UK used car sector than any other provider.
For any automotive businesses we bring unprecedented access to live data to power apps, populate reports and get insight into the UK used car market.
We track over 650,000 cars and 11500 dealers across 16k locations daily and match the data against the DVLA, SMMT and other data sources for normalisation and accuracy.
