Home Automotive Superminis lead UK used automotive market development of 5.1% in 2023

Superminis lead UK used automotive market development of 5.1% in 2023

Superminis lead UK used automotive market development of 5.1% in 2023


Superminis led the UK’s total used automotive market development of 5.1% in 2023, in line with the most recent figures from the Society of Motor Producers and Merchants (SMMT).

The market section accounted for practically a 3rd of all used automobiles offered out of seven.2 million transactions final yr.

4 straight quarters of development noticed 351,915 extra motorists get behind the wheel of a second hand automotive than in 2022 because the earlier yr’s provide constraints receded, delivering extra option to patrons.

Vehicles within the decrease medium section took over 1 / 4 of the used automotive market (26.6%) and twin goal automobiles took 15.2%. The smallest quantity section was luxurious saloons, representing simply 0.5% of transactions.

Paint it, black

Bucking the gray development within the new market, black automobiles had been the preferred used purchases, with greater than 1.5 million patrons (21.4%) selecting the color.

Gray, nevertheless, 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 automobiles discovered new house owners, and maroon represented 4,585 transactions.

Throughout the yr, gross sales of used battery electrical automobiles (BEV) virtually doubled, rising 90.9% to a file 118,973 models and a 1.6% share of the general market, up from 0.9% in 2022.

The SMMT stated the uplift is in keeping with development within the new automotive sector and it stated the figures “show eager demand for zero emission motoring on this naturally extra inexpensive worth bracket”.

Gross sales of hybrid electrical and plug-in hybrid electrical automobiles had been additionally robust, 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, nevertheless, remained probably the most dominant gas varieties, with a complete of 6,827,466 models altering palms – 94.3% of the general market.

Mike Hawes, SMMT chief government, stated: “A wholesome new automotive market is essential to driving alternative within the used sector and it’s nice to see file 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 swap.

“The upcoming Funds is a main alternative for the Authorities to do exactly that – halving VAT on new EVs, whereas making public charging as straightforward and inexpensive as plugging in at dwelling, would guarantee a sooner and fairer transition for all, giving the UK a inexperienced financial increase.”

Ford Fiesta 2016

The ever common Ford Fiesta, which the Blue Oval ended manufacturing of in June final yr, led the used automotive market final yr. Different superminis, hatchbacks and decrease medium automobiles paint the image of the preferred fashions out there.

James Hosking, managing director of AA Vehicles, stated the used automotive market was spurred on by a “highly effective mixture” of higher inventory ranges, settling costs and robust demand.

He stated: “With family budgets nonetheless underneath strain from the rising value of residing and excessive rates of interest, many drivers who want to exchange their automotive want to the worth of the used market.

“Many might be pleasantly shocked by the worth for cash that cooling costs are bringing to the second-hand market.”

The most recent AA Vehicles Used Automobile Index confirmed that the typical worth of the UK’s hottest used automobiles fell by 3.3% within the ultimate three months of 2023 in comparison with the earlier yr. 

Hosking added: “Electrical automobiles – although nonetheless solely accounting for a small share of used gross sales total – are more and more making their presence felt on the used automotive market, reaching file ranges.

“Higher availability of second-hand EVs and hybrids continues to enhance alternative for drivers and push down costs, serving to gross sales develop by 90.9% on an annual foundation.

“Nevertheless, whereas the price of some used EVs stays excessive in comparison with their petrol and diesel counterparts, extra incentives could also be wanted sooner or later to influence cash-strapped customers to go electrical. Dashing up the rollout of the charging community may even assist persuade drivers that now could be the time to modify.” 



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