The UK’s used automobile market grew by 5.5% throughout the third quarter with battery electrical automobiles (BEV) now representing 1.8% of the used market, up from 1.0% final yr, in line with the newest figures revealed immediately by the Society of Motor Producers and Merchants (SMMT).

Round 1,884,160 items modified palms, marking the third successive quarter of development, with 98,713 further transactions in contrast with the identical interval in 2022, following a strong improve in provide as the brand new automobile 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 very best Q3 efficiency since 2021.

Reflecting a rise in provide, demand for battery electrical automobiles (BEVs) doubled within the quarter, reaching a report market share as volumes rose by 99.9% to 34,021 items.

Gross sales of plug-in hybrids (PHEVs), and hybrids (HEVs) additionally grew, up 34.6%, and 46.4% respectively. Volumes for petrol and diesel vehicles, in the meantime, grew by 4.0% to 1,065,448 and a pair of.3% to 704,204 items respectively.

Superminis remained the most well-liked automobile kind, rising by 5.8% to 607,484 items and accounting for 32.3% of transactions. Rounding off the highest three automobile sorts had 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 bought in Q3. On the different finish of the size, sports activities and luxurious saloons had been the one segments to see declines, falling -1.8% and -2.5% respectively.

Black remained the most well-liked used automobile 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 beneficial properties – 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.

Consequently, the general market is up 4.6% to five,563,576 items yr thus far, a rise of 244,094 items on 2022, though uptake stays -9.3% off pre-pandemic ranges.

Mike Hawes, SMMT chief govt, mentioned: “The used automobile 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 development within the new automobile 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 every one drivers can trust in with the ability to cost each time and wherever they want.”

Alex Buttle, co-founder of used automobile market Motorway.co.uk, mentioned: “The automobile trade is happy to see used automobile gross sales persevering with to soar for one more quarter in 2023. With new automobile gross sales actually choosing up, this has led to extra used vehicles hitting the market. ULEZ Enlargement has boosted provide of non-compliant fashions too, so the market is effectively stocked with a variety of used vehicles throughout petrol, diesel, hybrid and EV fashions. 

“Used EV gross sales continued to skyrocket in Q3, with extra drivers trying to the used market as an alternative of recent, as a extra inexpensive route into going electrical. If the federal government can proceed to help the transition to electrical with improved charging infrastructure and monetary incentives for personal automobile patrons in addition to fleet customers, then used EV gross sales may soar even additional forward.”