ILC ARTICLE

EVs shine bright in gloomy figures

13th February 2023

The UK’s used car market fell 8.5% to 6,890,777 transactions last year, according to the Society of Motor Manufacturers and Traders (SMMT).

That was 640,179 below 2021’s total and 13.2% off 2019’s pre-pandemic figure.

However, while sales of used diesel and petrol cars fell by 11.8% and 7.7% respectively, used electric vehicles recorded their best-ever annual performance with a 37.5%. Meanwhile hybrid sales were up 8.6% and plug-in hybrid transactions increased by 3.6%.

Mike Hawes, SMMT Chief Executive, said, “While the market headlines are negative, and reflective of the squeeze on new car supply last year, record electrified vehicle uptake is a bright spot and demonstrates a growing appetite for these models. With new car registrations growth expected this year, more of the latest low and zero emission models should become available to second owners.

“Accelerating uptake is key and will be dependent on drivers being assured of a positive ownership experience. This means ensuring charging infrastructure keeps pace with demand as more new and used car buyers make the switch to zero emission motoring than ever before.”