EVs reach record high in used car sales

The used car market has made its strongest start to a year since before the pandemic, with 1,967,923 sales in the first three months of 2024.

This represents a 6.5% increase with sales volumes growing for 16 months in a row, according to data released by the Society of Motor Manufacturers and Traders (SMMT).

Meanwhile, sales of used electric vehicles surged by 71% to 41,505, to register a record market share of 2.1%. Hybrid sales increased by 49.3% to 74,502, while plug-in hybrids were up 42.5% to 22,065.

These figures contrast to a mode 7.7% increase in used petrol volumes (1,130,396) and a fall of 1.3% (697,718) in diesel numbers. However, combined, petrol and diesel models still accounted for 92.9% of all transactions.

Mike Hawes, SMMT chief executive, said: “A reinvigorated new car market is delivering more choice and affordability for used car buyers and, increasingly, they are choosing to go electric. To enable even more drivers to enjoy the benefits of zero emission motoring, ensuring both supply and demand remains robust is essential.

“Incentivising new EV uptake and investing in a charge-point network that is accessible, available and affordable to all will drive the nation’s net zero transition.”