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Battery electric vehicle (BEV) transactions are up 32% as volume and market share reach new records. The year-on-year performance is on the backdrop of the UK’s overall used car market being flat during the first quarter of the year, down -0.2% according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT).
The performance ended a 12-quarter growth streak, reflecting a subdued March where transactions fell -2.3%. Combined, electrified vehicles accounted for 11.7% of used cars finding new owners in Q1.
Transactions of BEVs grew by 32% to 86,943 units, as nearly one in 23 buyers (4.3%) made the switch, up from around one in 30 last year. Hybrid electric vehicle (HEV) sales rose by 27.6% to 128,039 units, increasing their market share to 6.4%, while plug-in hybrid (PHEV) transactions fell by -8.9% to 20,021 units, comprising 1% of the market.
More information on the SMMT website: EVs charge up used car market with record sales.
See BVRLA Chief Executive Toby Poston’s comment this week: Turning short-term demand into a sustainable used market.
