The UK’s used car market declined in 2022, down -8.5% to 6,890,777 transactions, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT).
The SMMT said 640,179 fewer vehicles changed hands than in 2021, and the market remains -13.2% off 2019’s pre-pandemic total, as the squeeze on new car supply restricted stock entering the second-hand environment.
Used battery electric vehicle (BEV) transactions were against the overall trend, recording their best-ever annual performance with a record 71,071 units finding new owners in 2022, a rise of 37.5%. This boosted the BEV overall share to 1.0%, from 0.7% in 2021. Robust demand for other alternatively fuelled vehicles continued, too, with sales of hybrid electric vehicles (HEVs) rising 8.6% and plug-in hybrid electric vehicle (PHEVs) transactions up 3.6%.
Combined, however, electrified vehicles represented just 4.1% of the market (up from 3.3% in 2021). While transactions of used diesel and petrol cars fell by -11.8% and -7.7% respectively, they remained the dominant powertrains.
