EVs are electrifying the UK’s used car market

This is a new record for the industry, and is up from 1.0% in 2022. In total, the UK’s used car market grew by 4.1% during Q2, with 1,832,267 units officially changing hands during the time period.

The SMMT’s latest report shows that the increase means there was an additional 72,583 sales when compared with the same period in 2022.

Despite the growth, the Q2 used car market remains 9.9% below pre-pandemic levels in 2019.

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Looking into the details of the report, there has been a double-digit growth for plug-in hybrids (PHEVs) and hybrids (HEVs), up 11.4% to 18,437 units and 29.5% to 53,634 units respectively.

The rising proportion of electrified vehicles meant that market share for conventionally powered cars marginally fell to 94.3% from 95.7% last year.

Mike Hawes, SMMT Chief Executive, said: “It’s great to see a recharged new car sector supporting demand for used cars and, in particular, helping more people to get behind the wheel of an electric vehicle.

“Meeting the undoubted appetite for pre-owned EVs will depend on sustaining a buoyant new car market and on the provision of accessible, reliable charging infrastructure powered by affordable, green energy.

“This, in turn, will allow more people to drive zero at a price point suited to them, helping accelerate delivery of our environmental goals.”

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What are the most popular used cars in the UIK?

The latest SMMT data has revealed the most purchased used cars in the UK for Q2 2023.