UK used car market grows 5.1% in Q1 2022

Published:  10 May, 2022

The UK’s used car market increased 5.1% in the first quarter of 2022, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). 1,774,351 cars were sold during the period, 86,596 more than during the same period in 2021.
January saw a 17.7% increase, while February went up by 7.4%. However, in March sales fell by 6.8%, which reflected the strong March in 2021.Overall, used car sales are still 12.2% below the pre-pandemic of 2019.

Used battery electric vehicle (BEV), sales went up by 120.2%, while plug in hybrids (PHEVs) and hybrids (HEVs) went up by 35.3% and 28.8% respectively.

Despite this, petrol and diesel still made up 96.2% of used sales, or 1,707,135 units. Plug-in vehicles comprised 3.6% of the total market share, up from 1.6% in Q1 2021.

Commenting in the figures, SMMT Chief Executive Mike Hawes said: “With the new car market hampered by ongoing global supply shortages, growth in the used car market is welcome, if unsurprising especially given we were in lockdown last year. Electric car sales are energising the market, with zero emission vehicles starting to filter through in larger numbers to consumers looking forward to driving the latest and greenest vehicles. Although there is some way to go before we see the recent growth in new EVs replicated in the used market, a buoyant new car market will be vital to help drive fleet renewal which is essential to the delivery of carbon savings.”

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