The market for used cars continued to grow during the second quarter of the year, according to a report from the car brokerage Kvdbil. The second quarter is the strongest in two and a half years.
326,814 used cars were sold during the quarter, distributed among car dealerships, the private market, and companies, which is an increase of 3.2 percent compared to the same period last year.
This is the fifth consecutive quarter with increased sales compared to the same period last year.
Sales of electric hybrids increased by 48.3 percent, plug-in hybrids and electric cars increased by 63.8 and 53.5 percent, respectively, compared to the second quarter of 2023. As in the previous quarter, sales of petrol- and diesel-driven cars continued to decrease, but they still dominate the market.
"We have seen a significant increase in sales in recent months. Many customers who previously waited to buy a car now feel that the time is right since interest rates are decreasing. At the same time, interest rates are still high, which means that many choose the used car market instead of buying a new car," says Daniel Odsberg, sales manager at Kvdbil, in a press release.
