LONDON, Aug. 11 (Xinhua) -- The British used car market declined by nearly half in the second quarter of 2020 as lockdown measures battered the market, said a report by the Society of Motor Manufacturers and Traders (SMMT).
Data showed that second-hand car transactions in Q2 were 1,039,303 units, down 48.9 percent compared with the same period last year.
Notably, the pace of decline eased within the quarter, recording a peak year-on-year loss of 74.2 percent in April to 17.5 percent in June, as dealerships began to reopen and transactions restarted.
Meanwhile, in the first six months of 2020, the country's used car transactions dropped by 28.7 percent compared with the same period of 2019.
"It is unclear how long it will take for the market to recover given economic uncertainties and a need for greater activity in the new market to drive fresh stock," said the SMMT.
Hawes said the auto sector is expecting more activity to return as the lockdown eases given how people see cars as "a safe and reliable way to travel during the pandemic." Enditem
