Demand for used electric vehicles increases significantly

Used electric vehicles sees a major rise in demand over the last year

The Society of Motor Manufacturers and Traders (SMMT) report that demand for used electric vehicles has increased significantly in 2024.

Over the past year, demand for used electric vehicles has risen by 57.4%, with total sales exceeding 188,000 units. This rise has increased the market share for used electric vehicles, with a 0.8% increase in sales for used electric vehicles from 2023.

Total sales of both new and used electric vehicles increased by 43% in comparison to 2023. The total market share for vehicle sales rose for electric vehicles in 2024, with 7.7% of sales being derived from electric vehicles.

Petrol cars stay as the current most popular option, with over 57% of the market being petrol vehicles, whereas demand for diesel vehicles had dropped within the last year, seeing a 2.4% decrease in sales.

The UK used car market saw a 5.5% growth in 2024, with over 7.5 million units sold.

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