Society of Motor Manufacturers and Traders (SMMT)

Used car market hits five year high as EVs reach record share

June 14, 2024May 9, 2024 Stuart Mitchell

The UK’s used car market rose by 6.5% in the first quarter of 2024 with 1,967,923 units finding new owners – the strongest start to a year since pre-pandemic 2019, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).1 The increase marks 16 months of successive growth, reflecting recovering supply in the new car market which is in turn improving availability and choice of second-hand motors. Used car transactions have risen in every month of the year to date1 but, despite this robust…

Used car market electrifying as EV sales soar in second quarter

September 12, 2023August 9, 2023 Stuart Mitchell

The UK’s used car market rose by 4.1% during the second quarter of the year, with 1,832,267 units changing hands, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). The increase equates to an additional 72,583 transactions compared with the same period in 2022, reflecting sustained growth in the new car market and improving availability. The easing of supply chain disruptions has driven sales growth in every month so far this year and, although the Q2 market remains -9.9% below 2019 levels, its…