The UK used car market will grow by 5.1% in 2023, with 7,242,692 transactions, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT).
The UK used car market will grow by 5.1% in 2023, with 7,242,692 transactions, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). With last year's supply constraints receding, he added 351,915 used vehicle drivers compared to 2022, his fourth consecutive quarterly increase, giving buyers more choice.1
Superminis once again proved to be the most popular used car body type, accounting for one in three cars sold that year (32.1%). This was closely followed by vehicles in the lower mid-size segment, which accounted for 26.6% of the market, followed by dual-purpose vehicles (15.2%). The segment with the lowest volume is luxury saloons, accounting for only 0.5% of transactions.
Bucking the new market gray trend, black cars were the most popular choice for used car purchases, with more than 1.5 million buyers (21.4%) choosing that color. However, Gray moved up the ranks, replacing Blue and placing him in second place. In the niche sector, 4,870 buyers chose pink, 4,686 cream cars found new owners, and maroon represented his 4,585 transactions.
Over the year, sales of used battery electric vehicles (BEVs) nearly doubled, increasing by 90.9% to a record 118,973 units, with overall market share increasing from 0.9% in 2022 to 1.6%. The new car sector is showing strong demand for zero-emission vehicles, naturally at a more affordable price point.
Sales of hybrid electric vehicles and plug-in hybrid electric vehicles also performed well, increasing by 40.0% and 25.1% respectively, with electric vehicles accounting for 5.6% of the market overall, up from 4.0% in 2022. However, diesel and gasoline still remained. It is the most dominant fuel type with a total of 6,827,466 units accounting for 94.3% of the total market.2
Mike Hawes, CEO of SMMT, said:
The health of the new car market is key to driving choice in the used car sector, and it's great to see record numbers of second and third owners benefiting from the increased availability of electric vehicles. is. The demand is there, but to sustain it we need all drivers to be able to switch. The upcoming Budget is a perfect opportunity for the government to do just that. Halving his VAT on new EVs and making public charging as easy and affordable as plugging in at home will ensure a faster and fairer transition for everyone, making Britain greener. It brings economy. Boost.
Number of used cars sold in the first period of 2022: 6,890,777 units.
2 Number of used diesel cars, 2023: 2,747,911 units. Number of used gasoline vehicles, 2023: 4,079,555 vehicles.
sauce: SMMT
