The UK’s used automobile market rallied with 4.1% development in Q1 and electrical automobiles (EVs) have been the quickest rising sector, up by 56.5%, in keeping with the most recent knowledge from the SMMT.
The general development in Q1 for used automobiles follows three successive quarters of decline.
The SMMT’s knowledge reveals 1,847,149 transactions occurred, with 72,798 extra automobiles altering fingers in contrast with the identical interval in 2022, as development within the new automobile market improved availability.
In one of the best begin to a 12 months since 2020, used automobile gross sales posted sturdy development in every month as demand continued to get better post-pandemic, with rises of three.6% in January, 4.4% in February and 4.3% in March.
Nonetheless, Q1 transactions stay -8.6% under pre-pandemic ranges, reflecting the continuing impression of provide challenges and client sentiment in mild of the financial backdrop.
Battery electrical automobiles (BEVs) have been the quickest rising powertrain, with transactions rising 56.5% to 26,257 items, representing 1.4% of the market – up from 0.9% final 12 months.
Plug-in hybrids (PHEVs) additionally modified fingers in higher volumes, rising 13.9% to 16,006 items. Consequently, plug-ins comprised 2.3% of gross sales, up from 1.7% final 12 months as rising numbers of zero emission automobiles entered the second-hand market. Hybrids (HEVs) additionally grew, by 38.2% to 49,182 items.
Whereas demand for used electrified automobiles continues to develop, typical powertrains stay dominant, with petrol transactions rising 4.5% to 1,048,015 items and diesel gross sales up marginally by 0.2% to 706,282 items. Mixed, ICE automobiles accounted for 95.0% (1,754,297 items) of the market, a fall of 1.2 proportion factors on final 12 months.
Superminis lead car kind
Superminis remained the preferred car kind at nearly 600,000 transactions.
Nonetheless, regardless of posting quantity development of three.3%, market share slipped to 32.3%.
Rounding off the highest three car varieties have been decrease medium, at 26.5% of the market, and twin objective, with a 15.5% share – after recording the most important quantity development, at 15.1%. The three segments accounted for nearly three quarters of all automobiles offered (74.3%). On the different finish of the size, luxurious saloons recorded the steepest fall, at -7.3%.
Black was as soon as once more the preferred used automobile color, equating to greater than a fifth (21.4%) of gross sales. Gray, final 12 months’s hottest color for brand new automobiles, took second place, knocking blue again into third.
Silver/aluminium – as soon as high of the rostrum – in addition to inexperienced and beige have been the one colors to say no within the high 10 rating fourth, seventh and tenth and falling by -1.8%, -2.3% and -0.7% respectively.
Mike Hawes, SMMT chief govt, stated: “Easing provide chain challenges have reenergised new automobile registrations, unlocking availability within the used market and, importantly, delivering extra zero emission succesful automobiles to second and third homeowners.
“Sustaining that development is significant for our environmental objectives, which suggests bolstering the brand new automobile market to drive provide to the used sector.
“Infrastructure rollout should additionally enhance – and at velocity – with reasonably priced and dependable charging important if extra used patrons are change to the most recent and cleanest out there automobiles.”