Marketcheck, the UK’s leading source of data on the UK used car market, have today published statistics highlighting a stark decrease in the sale of used vans following the Autumn budget.
Marketcheck analysed the 29 days prior to and following the Autumn budget on October 30th 2024. This showed that there was a 11.91% decrease in the sale of used vans immediately following Rachel Reeves’ budget. In the period between 1st October to 29th October, 18,174 used vans were sold throughout the UK. Between the 31st October and 30th November 2,165 fewer vans were sold.
| Used Vans | Total sold |
| Pre-Budget Total | 18,174 |
| Post-Budget Total | 16,009 |
| Difference | -2,165 |
| % Difference | -11.91% |
Further analysis shows that prior to the Autumn budget 627 used vans were sold on average per day. In the 29 days immediately following the budget this decreased by an average of 75 per day, down to 552.
| Used Vans | Daily Average |
| Pre-Budget Average | 627 |
| Post-Budget Average | 552 |
| Difference | -75 |
Alastair Campbell, Marketcheck UK, commented:
“These figures could indicate a decline in confidence across the economy, particularly in trades, following the Autumn Budget.
This trend highlights underlying economic challenges across various industries, especially those smaller companies where margins are tight and additional cost burdens could delay or slow investment, Whether this is as a result of decreased capital available to expand their businesses, or a lack of confidence due to contractions in other sectors is unclear, but it is certainly a concern.
Analysing business activity through the sales of used vans is an insightful method to discover how the trades could perceive the economy.”
ENDS
About Marketcheck UK:
We 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.
Contact:
Alistair Harrison
07498 217705
[email protected]