Friday, November 22, 2024
Electric VehiclesLatestNews

Used EVs market rises by 37.5%

The best-ever annual performance of used battery electric vehicles (BEVs) was recorded in 2022 with 71,071 units sold – a rise of 37.5%.

The figures from the Society of Motor Manufacturers and Traders (SMMT) came against an overall decline in the used car market of -8.5% with a squeeze on cars entering the used marketplace due to a lack of new vehicles from the global shortage of semiconductors.

BEVs are now 1% of the overall market – up from 0.7% in 2021 – and robust demand for other alternatively fuelled vehicles continued with sales of hybrid electric vehicles (HEVs) rising 8.6% and plug-in hybrid electric vehicle (PHEVs) transactions up 3.6%.

Combined together, EVs represented 4.1% of the market – up from 3.3% in 2021.

Mike Hawes, SMMT Chief Executive, said, “While the market headlines are negative, and reflective of the squeeze on new car supply last year, record electrified vehicle uptake is a bright spot and demonstrates a growing appetite for these models.

“Accelerating uptake is key and will be dependent on drivers being assured of a positive ownership experience. This means ensuring charging infrastructure keeps pace with demand as more new and used car buyers make the switch to zero emission motoring than ever before.”

Sign up for our essential
newsletter service.

Enter your details here.