EVs boost UK used car sales

The increase saw an additional 131,128 sales compared with the same period in 2023, as sustained growth in the new car market has fuelled choice and availability in the used car sector.

According to new SMMT figures, used car transactions have risen in every month of the year, with the first six months up 6.8 per cent to 3,931,318 units – marking the best growth since 2016 and the best first half year since 2019. It also found that the market is now just -3.0 per cent less than pre-pandemic levels.

The report found that an increasing number of buyers are switching to battery electric vehicles (BEVs), with 46,773 BEVs bought between April and June, a rise of 52.6 per cent.

Sales of plug-in hybrids (PHEVs) and hybrids (HEVs) also grew by 25.2 per cent to 21,580 units and 43.6 per cent to 78,782 units respectively. Petrol and diesel powered cars still accounted for 92.4 per cent of all vehicles, down from 94.3 per cent last year. Petrol remained the most popular fuel type, up 9.2 per cent, while diesel fell by -1.2 per cent.

Supermini cars remained the best-selling used vehicle type, with volume of sales increasing by 8.6 per cent to make up 31.9 per cent of transactions, followed by lower medium (27.1 per cent share) and dual purpose (15.8 per cent share) cars.

The South East and North West of England had the most used car sales, with 288,204 and 211,501 transactions respectively, while London (151,506)  and Wales (104,361) were reported to have the lowest number of sales.

In a statement, Mike Hawes, SMMT chief executive, said: “It’s encouraging to see the used car market continue its recovery, with choice and affordability rejuvenated by the new car sector’s sustained run of growth.

“The increased supply of electric vehicles to second and third owners is helping more motorists make the switch – underlining the importance of energising the new EV market to support a fair transition for all. Maintaining momentum requires reliable, affordable and green EV charging up and down the country and incentives to get all of Britain on board the net zero transition.”

The SMMT report can be downloaded and read in full here.