Dealers told to prepare for used ICE car supply to drop 69% by 2028

The volume of ICE cars entering the used car market is set to decline by as much as 69% by 2028 as car makers prioritise EV sales to hit government-legislated targets, Cox Automotive has forecasted.

This has prompted Cox to call on dealers to “prepare now” or be left behind as more EVs begin to trickle into the used car parc, replacing the more sought-after ICE cars.

Dealers will also start to fight for the most in-demand stock, predicts Cox – especially as its data shows that 3.1 million fewer cars have been made since 2020 than in the four years preceding it, due to Covid.

The forecast, which compared the previous four years of new and used car sales with the upcoming four years, also picked out other standout topics, such as how the car parc will change, why hybrids should be the key target for dealers and the future of diesel.