The UK’s used automobile market grew by 5.1% to 7,242,692 transactions in 2023, in accordance with the most recent figures printed right this moment by the Society of Motor Producers and Merchants (SMMT). 4 straight quarters of progress noticed 351,915 extra motorists get behind the wheel of a second hand automobile than in 2022 because the earlier yr’s provide constraints receded, delivering extra option to patrons.¹

Superminis as soon as once more proved the preferred used automobile physique kind, accounting for one in three (32.1%) gross sales within the yr. They had been adopted carefully by vehicles within the decrease medium section, which took 26.6% of the market, and twin function automobiles (15.2%). The smallest quantity section was luxurious saloons, representing simply 0.5% of transactions.

Bucking the gray pattern within the new market, black vehicles had been the preferred used purchases, with greater than 1.5 million patrons (21.4%) selecting the color. Gray, nonetheless, elevated its rating, displacing blue to take second place. On the area of interest finish of the spectrum, 4,870 patrons opted for pink, whereas 4,686 cream vehicles discovered new house owners, and maroon represented 4,585 transactions.

Throughout the yr, gross sales of used battery electrical vehicles (BEV) virtually doubled, rising 90.9% to a document 118,973 items and a 1.6% share of the general market, up from 0.9% in 2022. The uplift is consistent with progress within the new automobile sector and demonstrates eager demand for zero emission motoring on this naturally extra reasonably priced worth bracket.

Gross sales of hybrid electrical and plug-in hybrid electrical vehicles had been additionally sturdy, up by 40.0% and 25.1% respectively and, collectively, electrified automobiles represented 5.6% of the market – up from 4.0% in 2022. Diesel and petrol, nonetheless, remained essentially the most dominant gasoline varieties, with a complete of 6,827,466 items altering arms – 94.3% of the general market.²

Mike Hawes, SMMT Chief Govt, stated,

A wholesome new automobile market is essential to driving selection within the used sector and it’s nice to see document numbers of second and third house owners benefitting from the rising availability of electrical automobiles. The demand is there, however to maintain it we should allow each motorist to make the change. The upcoming Funds is a major alternative for presidency to just do that – halving VAT on new EVs, whereas making public charging as straightforward and reasonably priced as plugging in at residence, would guarantee a sooner and fairer transition for all, giving the UK a inexperienced financial enhance.

1 FY used automobile gross sales, 2022: 6,890,777 items.
2 Used diesel figures, 2023: 2,747,911 items; Used petrol figures, 2023: 4,079,555 items.

SOURCE: SMMT