Used battery-electric vehicles (BEV) have grown by 44.4% as one in 25 buyers make the switch, according to figures by the Society of Motor Manufacturers and Traders (SMMT).
The powertrain now has a record market share of 4%, as the overall used car market grew by 2.8% in the last quarter. It was the best third quarter for BEVs since 2021, and marks 11 quarters of continuous growth.
Petrol remained the best-selling fuel type, with transactions rising 1.9%, while diesel fell by 2.8%. Hybrid electric vehicle (HEV) transactions rose by 30% to 107,727 units, increasing market share to 5.3%, while plug-in hybrid (PHEV) sales also grew by 2%, comprising 1.2% of the market.
The average age of the UK vehicle parc continued to increase, and currently stands at 9.5 years, which is up from eight years in 2019. But 99,313 cars were under a year old, with a third of them electrified.
The SMMT warned about the impact on the used car market of plans to levy company car tax on employee car ownership scheme (ECOS) vehicles, which are a popular route to purchasing for drivers.
It said the move would see new car registrations fall by around 80,000 units a year, impacting the supply of zero emission vehicles into the used marketplace.
Scrapping the proposals would “preserve this essential pipeline of high-quality, cost-effective, nearly new vehicles, giving consumers maximum choice, affordability and access to more sustainable motoring”, it said.
SMMT Chief Executive, Mike Hawes, said:
“With used EV uptake at a record high, a robust used car market is essential for fleet renewal, and helps make electrified mobility more accessible for more motorists.
“However, overall consumer choice and affordability are at risk if the government scraps Employee Car Ownership Schemes, a move that would stifle supply of the very latest vehicles into the used market and cut Exchequer revenue. Britain needs fiscal policy that promotes rather than prevents economic growth, social mobility and decarbonisation.”
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