Demand for used EVs rises to record levels as second-hand car market grows in 2024

SMMT: Pre-loved EVs boast record demand, rising 57.4% to 188,382 units and taking 2.5% of the market.

The UK’s used car market grew by 5.5% to 7,643,180 transactions in 2024, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). 

Marking eight quarters of continuous growth, the year saw 400,488 more vehicles change hands than in 2023, with growth in the new car market fuelling availability and wider choice within the used sector.

Transactions rose in every month in 2024, as they did in 2023, with Q4 up 4.0% to 1,746,051...

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