The UK’s used automotive market grew by 5.5% throughout the third quarter, with 1,884,160 models altering fingers, based on the most recent figures revealed as we speak by the Society of Motor Producers and Merchants (SMMT). The rise marks the third successive – and finest quarterly – progress of the 12 months, with 98,713 extra transactions in contrast with the identical interval in 2022,¹ following a sturdy enhance in provide as the brand new automotive market recovers.

Volumes in every month of the quarter rose, with the strongest achieve in September, up 6.3%, which helped the market ship the most effective Q3 efficiency since 2021. Reflecting a rise in provide, demand for battery electrical automobiles (BEVs) doubled within the quarter, reaching a document market share as volumes rose by 99.9% to 34,021 models. The increase now means BEVs symbolize 1.8% of the used market, up from 1.0% final 12 months. Plug-in hybrids (PHEVs), and hybrids (HEVs) additionally grew, up 34.6%, and 46.4% respectively – leading to mixed plug-ins growing by 70.9% to comprise 2.8% of the market. Volumes for petrol and diesel vehicles, in the meantime, grew by 4.0% to 1,065,448 and a couple of.3% to 704,204 models respectively.

Superminis remained the preferred car sort, rising by 5.8% to 607,484 models and accounting for 32.3% of transactions. Rounding off the highest three car sorts have been decrease medium and twin objective vehicles, each rising by 7.1% to make up 26.8% and 14.9% of the market. Mixed, the three segments account for nearly three quarters (73.9%) of all vehicles offered in Q3. On the different finish of the dimensions, sports activities and luxurious saloons have been the one segments to see declines, falling -1.8% and -2.5% respectively.

Black remained the preferred used automotive color for the eleventh consecutive quarter, equating to greater than a fifth (21.3%) of gross sales. The highest 5 stay the identical as Q3 2022, with gray taking second place and seeing above common positive factors – rising 9.8% to extend market share to 17.1%. Blue held sturdy in third place, silver – which as soon as firmly held pole place – was fourth and white positioned in fifth.

In consequence, the general market is up 4.6% to five,563,576 models 12 months to this point, a rise of 244,094 models on 2022, though uptake stays -9.3% off pre-pandemic ranges.³

Mike Hawes, SMMT Chief Government, stated,

The used automotive market continues to develop strongly, with re-energised provide unlocking demand for pre-owned electrical automobiles – the outcome being twice as many motorists switching to zero emission motoring within the quarter. Sustaining this momentum requires progress within the new automotive market, to spice up provide to the used sector and cement this success. Equally essential is the pressing want for charging infrastructure rollout, so that each one drivers can trust in with the ability to cost every time and wherever they want.

1 Used automotive transactions, Q3 2022: 1,785,477 models
2 Used automotive transactions, Q3 2021: 2,034,463 models
3 Used automotive transactions, Q3 2019: 2,076,382 models

SOURCE: SMMT