The UK used car market continues to bounce back strongly from a challenging 2022, supported by recovering production levels and surging demand for EVs.

Sales of used BEVs soared by 81.8%, accounting for a record 1.7% market share

More than 1.8 million cars changed hands last quarter, according to new figures from the Society of Motor Manufacturers and Traders (SMMT). That’s up 4.1% or over 70,000 transactions compared with the same period in 2022 and marks the second consecutive quarter of growth, although the Q2 market remains 9.9% below pre-pandemic 2019 levels. The rise comes after separate SMMT data showed new car sales have risen for 12 months in a row.

Sales of used battery electric vehicles (BEVs) soared by 81.8% to 30,645 units, accounting for a record 1.7% market share – up from 1.0% last year. Double-digit growth also continued 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 market share for conventionally powered cars marginally fell to 94.3% from 95.7% last year, despite volumes of petrol and diesel cars growing 2.5% and 2.8% respectively.

Overall, first-half transactions were also up 4.1% on weak 2022 volumes, but the market remains 9.2% behind 2019.

For Q2, superminis remained the best-selling used vehicle type, making up 31.5% of transactions and growing by 4.4% to 576,980 units. This was followed by lower medium, accounting for 26.5% of the market, while dual purpose cars rounded off the top three with a 15.1% share. Top sellers were the Ford Fiesta, followed by the Vauxhall Corsa, Volkswagen Golf and Ford Focus.

Black retained its position as the most popular colour choice for the 10th quarter in a row, representing more than one in five (21.3%) transactions. It was followed by grey and blue in second and third places with respective 16.9% and 16.3% market shares.

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.”

Meanwhile, Lisa Watson, director of sales at Close Brothers Motor Finance, said rising used car demand showed that the cost-of-living crisis was having a prolonged effect on consumer’s buying plans for new cars.

She added: “The introduction of the Ultra Low Emission Zone (ULEZ) expansion in London and the likelihood of other cities adopting similar schemes could have a further impact on used car sales. As consumers look for compliant vehicles, many will turn to the used market in order to save money compared to purchasing a new car. This should also make alternative fuel vehicles accessible to consumers, as more have come onto the used market and sales have increased.”

AA Cars’ Mark Oakley also said the impending expansion of the ULEZ in London was accelerating existing demand for BEVs, “with many drivers looking for a way to future-proof themselves as more cities consider rolling out or expanding clean air zones”.