Last year saw a surge in the sales of pure electric used cars, hitting an all-time high market share, according to the latest figures. The Society of Motor Manufacturers and Traders (SMMT) reported that around 188,000 such vehicles were sold in the UK in 2024, accounting for 2.5% of the total 7.6 million sales. This is a significant increase from 2023 when pure electric used cars held a 1.7% market share out of 7.2 million total sales.
However, the SMMT has issued a warning that the growing demand for both used and new electric vehicles (EVs) "cannot continue to be taken for granted". They pointed out that the removal of EVs’ exemption from vehicle excise duty (VED) and the expensive car supplement starting April 1 is "likely to impact on the used market" by "drastically increasing ownership costs" for the first six years. Petrol and diesel used cars still dominated last year with a 92.1% market share, though this was down from 94.3% in 2023. Mike Hawes, SMMT chief executive, commented: "The used car sector’s 25-month growth streak is good news for fleet renewal and for consumers benefiting from the greater choice filtering through from the new market.
"Record sales of second-hand EVs also demonstrates strong appetite for these cutting-edge cars at lower price points. Ensuring ongoing growth, however, means maintaining that affordability, along with supply, which requires meaningful fiscal incentives to stimulate consumer demand for new EVs and removing the VED expensive car tax disincentive that risks dragging down used EV affordability for years to come.".
The Ford Fiesta reigned as the UK’s top choice in the pre-owned vehicle market last year with 306,000 transactions, proudly claiming the best-selling used car title. It was closely trailed by the Vauxhall Corsa at 253,000 deals and the Volkswagen Golf with 231,000 exchanges. James Wilson, who is at the helm of operations for the popular used car platform Motorway.co.uk, commented: "It’s promising to see another year of growth for the used car market. With a year of elections, policy changes and economic uncertainty, it’s unsurprising that price-conscious consumers turned to the used car market for more affordable motoring options.".
James Hosking, managing director of AA Cars, said: "The used car market is on a roll, celebrating its eighth consecutive quarter of growth and record demand for pre-loved EVs. With more electric and hybrid vehicles entering the second-hand market, buyers now have a wider selection than ever, helping to drive demand. "This surge underscores a key consumer trend – affordability is king. With household budgets under strain, many are opting for nearly new models over splashing out on a brand new car.".
