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The UK’s used automotive market grew by 5.1% to 7,242,692 transactions in 2023, in keeping with the newest figures printed at present by the Society of Motor Producers and Merchants (SMMT)
The UK’s used automotive market grew by 5.1% to 7,242,692 transactions in 2023, in keeping with the newest figures printed at present by the Society of Motor Producers and Merchants (SMMT). 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 12 months’s provide constraints receded, delivering extra option to consumers.1
Superminis as soon as once more proved the most well-liked used automotive physique sort, accounting for one in three (32.1%) gross sales within the 12 months. They had been adopted carefully by vehicles within the decrease medium phase, which took 26.6% of the market, and twin function autos (15.2%). The smallest quantity phase was luxurious saloons, representing simply 0.5% of transactions.
Bucking the gray pattern within the new market, black vehicles had been the most well-liked used purchases, with greater than 1.5 million consumers (21.4%) selecting the color. Gray, nonetheless, elevated its rating, displacing blue to take second place. On the area of interest finish of the spectrum, 4,870 consumers opted for pink, whereas 4,686 cream vehicles discovered new homeowners, and maroon represented 4,585 transactions.
Throughout the 12 months, gross sales of used battery electrical vehicles (BEV) nearly 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 uplift is according to development within the new automotive sector and demonstrates eager demand for zero emission motoring on this naturally extra reasonably priced value bracket.
Gross sales of hybrid electrical and plug-in hybrid electrical vehicles had been additionally sturdy, up by 40.0% and 25.1% respectively and, collectively, electrified autos represented 5.6% of the market – up from 4.0% in 2022. Diesel and petrol, nonetheless, remained probably the most dominant gas sorts, with a complete of 6,827,466 models altering arms – 94.3% of the general market.2
Mike Hawes, SMMT Chief Government, stated,
A wholesome new automotive market is vital to driving alternative within the used sector and it’s nice to see file numbers of second and third homeowners benefitting from the rising availability of electrical autos. The demand is there, however to maintain it we should allow each motorist to make the swap. The upcoming Finances is a primary alternative for presidency to do exactly that – halving VAT on new EVs, whereas making public charging as simple and reasonably priced as plugging in at residence, would guarantee a sooner and fairer transition for all, giving the UK a inexperienced financial enhance.
1 FY used automotive gross sales, 2022: 6,890,777 models.
2 Used diesel figures, 2023: 2,747,911 models; Used petrol figures, 2023: 4,079,555 models.
SOURCE: SMMT
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