Sales of used battery electric cars almost doubled last year, new figures show.
A record 119,000 of the vehicles changed hands in the UK in 2023, the Society of Motor Manufacturers and Traders (SMMT) said.
That represented a 90.9% increase on the previous 12 months.
UK used car transactions grow 5.1% in 2023
Battery electric car sales almost doubled, up by 90.9% to 118,973 – but at just 1.6% of the market, industry calls for VAT cut on new EVs so future supply can grow to meet second hand demandhttps://t.co/PTj6Ukft9U pic.twitter.com/or6uJtePms
— SMMT (@SMMT) February 8, 2024
The market share for sales of used battery electric cars was 1.6% last year, up from 0.9% in 2022.
The SMMT said the figures demonstrate “keen demand for zero emission motoring”.
The overall used car market grew by 5.1% last year with 7.2 million transactions, up from 6.9 million in 2022.
The Ford Fiesta was the most popular used car purchase in 2023, with 308,000 sales.
📢"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"@MikeHawesSMMT on used car figures for 2023https://t.co/PTj6Ukft9U pic.twitter.com/BTBF0kh1pr
— SMMT (@SMMT) February 8, 2024
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.
“The upcoming Budget is a prime opportunity for Government to do just that – halving VAT on new EVs, while making public charging as easy and affordable as plugging in at home, would ensure a faster and fairer transition for all, giving the UK a green economic boost.”
Used car market up as EV sales reach record levels in 2023
— SMMT (@SMMT) February 8, 2024
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.”