Used electric vehicle (EV) sales in the UK reached a record high last year, driven by falling prices and a wider choice of models, according to the Society of Motor Manufacturers and Traders (SMMT). Total used car sales rose by 5.5% in 2024, with 7.6 million vehicles changing hands. Sales increased every month, continuing the trend from 2023.
Secondhand EV sales surged by 57.4% to 188,382 cars, accounting for 2.5% of the overall used car market. Popular models such as the Tesla Model 3 and Kia e-Niro have seen significant price drops, in some cases nearing parity with petrol cars. Colin Walker of the Energy & Climate Intelligence Unit noted that strong sales growth coincides with EVs reaching price parity on the secondhand market, demonstrating that demand for electric driving is strong when prices are competitive.
Black remained the top colour choice for used car buyers, while superminis were the most popular car type. James Hosking of AA Cars commented that the used car market is thriving, with more electric and hybrid vehicles entering the market, providing buyers with a wider selection. He emphasised that affordability is key, as many households opt for nearly new models over brand-new cars.
New EV sales also hit a record, with almost a fifth of the 1.95 million vehicles sold being electric, up from 16.5% in 2023. Sports utility vehicles (SUVs) outsold superminis for the first time, boosted by the shift to electric, as larger cars offer more space for batteries. EV sales have soared due to government mandates requiring manufacturers to sell more zero-emission vehicles each year, aiming to cut transport emissions, which accounted for 28% of UK carbon pollution in 2022.
Under the zero emission vehicle (ZEV) mandate, 80% of new cars and 70% of new vans must be zero emission by 2030, rising to 100% by 2035. However, the government is considering relaxing the mandate amid falling global demand for new EVs. Walker stressed that the secondhand market's growth depends on supply, making the ZEV mandate crucial for ensuring households can access the £1,600 annual savings from owning an EV.
