Used car market electrifying as EV sales soar in second quarter

The UK’s used car market is seeing increased sales of used battery electric vehicle (BEVs) with sales in Q2 2022 growing by 81.8 percent to 30,645 units, representing 1.7 percent of the market – a new record – up from 1.0 percent last year – according to latest figures published by the Society of Motor Manufacturers and Traders (SMMT).
Used car market electrifying as EV sales soar in second quarter
Peugeot iOn.

The rising proportion of electrified vehicles meant that market share for conventionally powered cars marginally fell to 94.3 percent from 95.7 percent last year, even though volumes of petrol and diesel cars saw growth of 2.5 percent and 2.8 percent respectively.

Superminis remained the best-selling used vehicle type, making up 31.5 percent of transactions and growing by 4.4 percent to 576,980 units. This was followed by lower medium, accounting for 26.5 percent of the market, while dual purpose cars rounded off the top three with a 15.1 percent share.

“It’s great to see a recharged new car sector supporting demand for used cars and, in particular, helping more people to get behind the wheel of an electric vehicle” said Mike Hawes, SMMT Chief Executive. “Meeting the undoubted appetite for pre-owned EVs will depend on sustaining a buoyant new car market and on the provision of accessible, reliable charging infrastructure powered by affordable, green energy. This, in turn, will allow more people to drive zero at a price point suited to them, helping accelerate delivery of our environmental goals.”

For additional information:

Society of Motor Manufacturers and Traders (SMMT)

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