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The Guardian
10-02-2025
- Automotive
- The Guardian
UK used electric vehicle sales hit record last year as prices fell
A record number of used electric vehicles (EVs) were sold in the UK last year, as prices eased and the choice of cars widened, according to industry data. Total sales of used cars rose by 5.5% in 2024, as 7.6m vehicles changed hands, according to the Society of Motor Manufacturers & Traders (SMMT). Sales rose in every month last year, as they did in 2023. Secondhand EVs were more in demand than ever, as consumers and businesses acquired 188,382 cars – 57.4% more than the year before. They made up 2.5% of the overall used car market. Some popular models of used electric car, including the Tesla Model 3 and Kia e-Niro, have fallen significantly in price in recent years, and in some cases reached near-parity with petrol cars. Colin Walker, the head of transport at the Energy & Climate Intelligence Unit, said: 'It is no coincidence that such strong sales growth comes on the back of EVs largely reaching price parity with petrols on the secondhand market. It demonstrates that once prices come down, the demand for electric driving is very much there.' Black remains the top colour choice among buyers of secondhand cars and superminis are the most popular car type, the SMMT said. James Hosking, the managing director of AA Cars, said: 'The used car market is on a roll … With more electric and hybrid vehicles entering the secondhand 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.' Carmakers also sold a record number of new electric cars in the UK last year. Nearly a fifth of the 1.95m vehicles sold were electric, up from 16.5% in 2023. Among new cars, sports utility vehicles were dominant, outselling other popular types of car such as the supermini for the first time. SUV sales were helped by the shift to electric, as bulkier cars have more space for a battery. EV sales have surged in Britain in recent years because of rules forcing manufacturers to sell more every year in an effort to cut the carbon dioxide emissions of transport, which accounted for 28% of all domestic UK carbon pollution in 2022. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Under the zero emission vehicle (ZEV) mandate, 80% of new cars and 70% of new vans sold in the UK will be zero emission by 2030, increasing to 100% by 2035. However, the government is preparing to relax the ZEV mandate amid falling demand for EVs across the global new car market. Walker said: 'With 80% of car sales taking place on the secondhand market, it has a vital role to play if millions of UK households are to access the £1,600 in annual savings that can come from owning an EV. 'But its growth is dependent on supply, which is why the government's ZEV mandate has such an important role to play in ensuring that everyone is able to make the move to EVs. The more new EVs are sold today, the quicker the secondhand market will grow.'
The Independent
10-02-2025
- Automotive
- The Independent
Sales of used electric cars reach record market share
Sales of pure electric used cars reached a record market share last year, new figures show. Some 188,000 such vehicles changed hands in the UK in 2024, the Society of Motor Manufacturers and Traders (SMMT) said. This represented 2.5% of the total sales of 7.6 million. 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 Mike Hawes, SMMT In 2023, the market share for pure electric used cars was 1.7%, out of a total of 7.2 million. The SMMT warned that growing demand for used and new electric vehicles (EVs) 'cannot continue to be taken for granted'. It said that the decision to remove EVs' exemption from vehicle excise duty (VED) and the expensive car supplement from April 1 was 'likely to impact on the used market' as it was 'drastically increasing ownership costs' for the first six years of their use. Last year, petrol and diesel used cars took a market share of 92.1%, down from 94.3% in 2023. Record sales of second-hand EVs also demonstrates strong appetite for these cutting-edge cars at lower price points Mike Hawes, SMMT SMMT chief executive Mike Hawes said: '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 was the UK's best-selling used car last year, with 306,000 transactions. This was followed by the Vauxhall Corsa (253,000 transactions) and the Volkswagen Golf (231,000). 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, AA Cars James Wilson, chief operating officer of used car marketplace said: '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.'
