The UK’s used automotive market grew by 5.1% to 7,242,692 transactions in 2023, in accordance with the newest figures revealed 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 accordance with the newest figures revealed 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 preferred used automotive physique kind, accounting for one in three (32.1%) gross sales within the 12 months. They had been adopted carefully by automobiles within the decrease medium section, which took 26.6% of the market, and twin objective automobiles (15.2%). The smallest quantity section was luxurious saloons, representing simply 0.5% of transactions.
Bucking the gray pattern within the new market, black automobiles had been the preferred used purchases, with greater than 1.5 million consumers (21.4%) selecting the color. Gray, nevertheless, 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 automobiles discovered new house owners, and maroon represented 4,585 transactions.
Throughout the 12 months, gross sales of used battery electrical automobiles (BEV) nearly doubled, rising 90.9% to a document 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 worth bracket.
Gross sales of hybrid electrical and plug-in hybrid electrical automobiles had been additionally robust, up by 40.0% and 25.1% respectively and, collectively, electrified automobiles represented 5.6% of the market – up from 4.0% in 2022. Diesel and petrol, nevertheless, remained probably the most dominant gasoline sorts, with a complete of 6,827,466 models altering fingers – 94.3% of the general market.2
Mike Hawes, SMMT Chief Government, stated,
A wholesome new automotive market is essential to driving selection within the used sector and it’s nice to see document numbers of second and third house owners benefitting from the rising availability of electrical automobiles. The demand is there, however to maintain it we should allow each motorist to make the change. The upcoming Price range is a major 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 increase.
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
Supply
