BEVs “fastest growing” used car segment

The UK’s used car market has grown by 4.1% in the first quarter of 2023 as battery-electric vehicles (BEV) rising 56.5%, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT).

The news shows 26,257 BEV units were transacted during this period – representing around 1.4% of the overall marketplace, and up from 0.9% last year. Plug-in hybrids (PHEVs) also changed hands in greater volumes, rising 13.9% to 16,006 units.

As a result, plug-ins comprised 2.3% of sales, up from 1.7% last year, as increasing numbers of zero emission vehicles entered the second-hand market. Hybrids (HEVs) also grew, by 38.2% to 49,182 units.

Fast start

In the best start to a year since 2020, used car sales posted robust growth in each month, as demand continued to recover post-pandemic, with rises of 3.6% in January, 4.4% in February and 4.3% in March.

Mike Hawes, SMMT chief executive, said, “Easing supply chain challenges have reenergised new car registrations, unlocking availability in the used market and, importantly, delivering more zero emission capable vehicles to second and third owners. Sustaining that growth is vital for our environmental goals, which means bolstering the new car market to drive supply to the used sector.

“Infrastructure rollout must also improve – and at speed – with affordable and reliable charging essential if more used buyers are to switch to the latest and cleanest available vehicles.”

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