Used electric vehicle sales soar to record high as British drivers warned of 'urgent priority'

The rise has pushed electric vehicles to their highest-ever market share in the used car sector, reaching 2.7 per cent, up from 1.8 per cent in 2023.

Other low emission vehicles also saw significant growth, with plug-in hybrid sales climbing by 29 per cent and hybrid transactions increasing by 35.8 per cent.

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The used car market has recorded its seventh consecutive quarter of year-on-year growth, expanding by 4.3 per cent between July and September, according to new data from the Society of Motor Manufacturers and Traders (SMMT).

A total of 1.96 million vehicles changed hands during this period, representing 81,651 more transactions than the same period in 2023.

Fiona Howarth, CEO of Octopus Electric Vehicles told GB News: "The market for second-hand EVs is being driven by fleets like Octopus who take the initial risk of new models and make electric cars affordable through initiatives such as salary sacrifice.

"The Government continued to back salary sacrifice in the budget and, coupled with a strong ZEV Mandate, it is seeding a thriving secondhand market."

Traditional fuel types continue to dominate the market, with petrol and diesel vehicles accounting for 91.7 per cent of all sales. Petrol car sales increased by 5.7 per cent to 1.12 million units, while diesel vehicle transactions declined by 3.9 per cent to less than 680,000 units.

Commenting on the data, SMMT chief executive Mike Hawes said: "Growth in the used car sector is good news and driven by an outstanding range of desirable and, increasingly, zero emission vehicles to suit every budget. Maintaining this depends on a healthy new car market, particularly for EVs."

The Ford Fiesta remained the most popular used car in the third quarter of 2024, with almost 78,000 transactions - more than 13,000 more than the second-placed Vauxhall Corsa. Other notable second-hand cars to change hands include staples of British roads like the Volkswagen Golf, Ford Focus, Vauxhall Astra, Mini and BMW 3 Series.

Quentin Willson, Founder of FairCharge, said: “The rise in sales of used EVs shows us that consumers are recognising the value, lower running costs and minimal maintenance of EVs.

"Many secondhand EV models are now priced at the same level, or less, than equivalent combustion cars. The low total cost of ownership of EVs is galvanising the used market. The word is out.”

Hawes said that the growth in sales of used electric vehicles would give consumers the confidence to switch from petrol and diesel vehicles.

However, he noted that this needs to be supported by confidence and incentives, like a return of the Plug-in Car Grant, as well as price cuts from major brands.

He said that without these changes, the EV market would be impacted, leaving drivers with fewer options to transition.

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Hawes continued, saying: "This will be to the cost of motorists, the economy and the environment - making a review of support for the transition and the regulation intended to deliver it, an urgent priority."

Superminis maintained their position as the most popular used car choice, with sales rising five per cent, representing 32.4 per cent of all used car transactions.

A spokesperson for the Department for Transport said: "We are absolutely committed to delivering greener transport by supporting the transition to electric vehicles. The figures are excellent news, showing that electric vehicle sales in October are up a quarter compared to this time last year.

"With a market share of almost 21 per cent, the UK is now the second largest electric vehicle market in Europe. We will continue to support industry and consumers to make the switch, with over £300 million announced in the Budget to support uptake."