Demand for electric vehicles sparks surge in used car sales in UK

(Alliance News) – Demand for electric vehicles continues to drive a surge in used car sales in the UK, new figures show. Some 1.93 million cars changed hands in the UK between April and June, the Society of Motor Manufacturers & Traders said. That represented a 7.2% increase on the same period in 2023.

The SMMT said this is partly a result of sustained growth in the new car market leading to better choice and availability of used cars. Sales of used battery electric cars rose by 52.6% year on year to take a record quarterly market share of 2.4% with nearly 46,800 transactions. The first six months of this year saw overall used car sales just 3.0% below pre-coronavirus pandemic levels.

SMMT Chief Executive Mike Hawes said: “It’s encouraging to see the used car market continue its recovery, with choice and affordability rejuvenated by the new car sector’s sustained run of growth. “The increased supply of electric vehicles to second and third owners is helping more motorists make the switch – underlining the importance of energising the new EV market to support a fair transition for all. “Maintaining momentum requires reliable, affordable and green EV charging up and down the country, and incentives to get all of Britain on board the net zero transition.”

The Ford Fiesta was the UK’s best-selling used car between April and June, with 77,000 transactions. This was followed by the Vauxhall Corsa (63,700) and the Ford Focus (59,000). James Wilson, chief operating officer of used car marketplace Motorway.co.uk, said: “There is a consumer desire to switch to used electric vehicles, with drivers looking to the used market as an affordable entry point to transition to lower emission vehicles.

“However, if the new government wants to encourage even greater EV adoption and meet sustainability targets, they will need to act fast – removing barriers for more charging points, providing financial incentives for private car buyers and introducing new legislation on a single charging app. “Then we could really see EV sales skyrocket across both the new and used car markets.” By Neil Lancefield, PA Transport Correspondent