Comment from LKQ Euro Car Parts on recent SMMT used car statistics

Date: Friday 17 February 2023

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Following the recently published used car registration stats Andy Hamilton, CEO of LKQ Euro Car Parts, has commented:

“While the backlog on new vehicle production lines initially benefited the used vehicle market, it was inevitable that eventually, the shortage of new cars hitting the roads would catch up with used transactions.

“But the key takeaway from today’s data isn’t the size of the market; it’s the make-up. Appetite for the latest low and zero emission cars is growing among Britain’s used car buyers – and they’ll be looking to the independent aftermarket when it’s time to service them.

“That’s why we’re helping garages and bodyshops to future-proof their operations through investment in training and equipment, while optimising our product ranges to cater for all vehicle types. We’re passionate about protecting the livelihoods the independent aftermarket supports, and the vital service it provides to businesses and consumers across the UK.

“A £2,000 one-off cost can equip one technician with all the training, tools and equipment that’s needed to work on hybrids and EVs. With an average EV or hybrid service typically costing £300, garages can quickly generate a significant return on that investment.”

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