Sales of second-hand electric cars double as more than 100k sold for first time

08 February 2024 , 11:59

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Sales of used electric cars almost doubled last year (Image: PA Archive/PA Images)

Sales of second-hand electric cars in the UK nearly doubled last year, according to new figures.

The Society of Motor Manufacturers and Traders (SMMT) revealed that a record 119,000 of these vehicles were sold in 2023, marking a 90.9% increase from the previous year. The market share for used battery electric car sales rose to 1.6% in 2023, up from 0.9% in 2022.

The SMMT said this shows a "keen demand for zero emission motoring". The overall market for used cars grew by 5.1% last year, with 7.2 million transactions taking place. This was an increase from 6.9 million in 2022.

The Ford Fiesta was the most popular used car purchase in 2023, with 308,000 sales. SMMT chief executive Mike Hawes said: "A healthy new car market is key to driving choice in the used sector and it's great to see record numbers of second and third owners benefitting from the growing availability of electric vehicles."

"The demand is there, but to sustain it we must enable every motorist to make the switch." He added that the upcoming Budget is a prime opportunity for the Government to do just that by halving VAT on new EVs and making public charging as easy and affordable as plugging in at home.

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Ian Plummer, commercial director at online vehicle marketplace Auto Trader, said: "The used electric market may still be in its infancy, but last year saw a definite growth spurt. Significantly softened prices, greater availability and more choice has proven a compelling combination for car buyers."

"With many second-hand models now at price parity with their traditionally fuelled counterparts, along with lower running costs, the switch to electric has never been more attractive."

Alex Buttle, co-founder of used car selling comparison website Motorway.co.uk, said: "With new car production growing, more car owners sold their cars to get their hands on new or nearly-new vehicles. This led to a steady supply of high-quality used cars for savvy motorists keen to get a great deal."

Lawrence Matheson