The British used car market is projected to see significant increase in 2024, driven by an rise in car inventory and changing buyer needs. Following a difficult 2023, where new automobile supply issues due to chip shortages and post-COVID disruptions impacted the market, 2024 is projected to be a period of recovery and stabilization​ (Grant Thornton UK LLP)​​ (EY)​.

With makers boosting output to meet demand and maintain factory operation levels, the wave of new vehicles is expected to boost the pre-owned vehicle market as well. The sales of pre-owned vehicles are anticipated to attain 7.3 million cars in 2024, rising from an projected 7.05 million units in 2023. This growth, however, still lags behind pre-pandemic levels of 7.9 million units in 2019​ (Grant Thornton UK LLP)​.

One of the key trends to observe is the cost variability of automobile industry electric cars (BEVs) in the pre-owned market. As tech developments continue and regulations develop, the sector for secondhand BEVs may undergo considerable variability. The overall outlook remains cautiously optimistic, with the market gradually acclimating to emerging financial realities and customer demands​ (Grant Thornton)​.
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