UK car market statistics: Used and new car sales registration data from Q2 2024

Key used car sales statistics (updated for Q2 2024)

• 1,963,395 used cars were sold in the UK during Q2 of 2024 (April-June), which marked a 7.2% YoY increase from Q2 in 2023.
• 46,773 used battery electric vehicles (BEVs) were sold in Q2, meaning BEVs secured their largest market share to date, at 2.4% (up from 1.7% in Q2 2023).
• Superminis retained their title as the best-selling used car type, accounting for 31.9% of all transactions, followed by lower medium (27.1%) and dual-purpose vehicles (15.8%).

Source: SMMT

Used car market predictions for autumn/winter 2024

• The SMMT’s chief executive Mike Hawes attributed the used car market’s continued recovery to the new car sector’s “sustained run of growth”.
• Hawes noted that the increased supply of used EVs to second and third owners is helping motorists make the switch to EVs - and emphasised the importance of “energising the new EV market to support a fair transition for all”.
• Hawes added: “Maintaining momentum requires reliable, affordable, and green EV charging up and down the country, and incentives to get all of Britain on board the net zero transition.”
• According to the latest Zapmap data, at the end of July 2024, there were 66,779 public electric vehicle chargepoints across 34,570 locations. This does not include the chargers installed at home and workplace locations (currently estimated at over 700,000).
• Data from the AA Cars Used Car index revealed that average prices for the UK’s most sought-after petrol and diesel cars increased by 3.5% between Q1 and Q2 in 2024.
• Managing director of AA Cars, James Hoskins said: "Drivers wanting to reduce their emissions will see the biggest savings, with prices of EVs and hybrids falling 12% in the same period. We're expecting EV sales to reach record levels this year as more and more drivers are convinced to take the plunge thanks to the considerable savings.”
• Finally, Richard Evans, head of technical services at webuyanycar said: “Falling used EV prices are helping to make electric motoring more accessible to second-hand buyers, which should continue to drive sales. The recent price drop for used EVs has stimulated consumer demand. However, the continued delivery of accessible public charger infrastructure will also be a key driver in the efforts to electrify the UK’s roads.”

Source: SMMT, Zapmap, AA Cars, webuyanycar

Q3 2024: Early used car price indications

A report by vehicle valuation specialists HPI indicated that average values for used EVs have fallen below those for second-hand internal combustion engine (ICE) cars.

The report also stated that the values of used EVs have halved since September 2022, regardless of their age and mileage.

Richard Evans, head of technical services at webuyanycar added: “With many dependable used EVs now costing less than equivalent ICE models, many consumers may now be compelled to make the switch to electric.

“Used EV supplies have increased 174% since last year, outpacing demand, and we’re now seeing used Tesla's priced under £20,000 – a clear sign that EVs are becoming more accessible to the motoring public!”

Source: HPI, SMMT, webuyanycar

Which model will be the UK’s best-selling car in 2024?

As of July 2024, the Ford Puma is on track to be the UK’s best-selling car for the second year running, with a total of 29,729 registrations.

Key new car sales statistics for July 2024

• The UK’s new car market grew by 2.5% in July 2024, marking two years of continued growth, according to the latest SMMT figures.
• A total of 147,517 cars joined the roads, indicating the best July performance since 2020, when the re-opening of dealerships following lockdown restrictions led to a surge in deliveries.
• Petrol was the most popular powertrain, with 76,879 units sold. However, petrol market share fell to 52.1% (from 56.8% in July 2023).
• Sales across all electric powertrain types increased; this included BEVs, plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). Their combined market share increased to 41.9% (up from 35.4% in July 2023).
• Diesel remained the least popular powertrain with 8,708 units sold – and its market share shrank to 5.9% (from 7.7% in July 2023).

Source: SMMT

Please note: Sales for mild hybrid electric vehicles (MHEVs) are now included in the petrol and diesel figures for SMMT reports.

Year-to-date new car market data (Jan-Jul 2024)

• New car sales grew by 5.5% from January to July 2024, compared to the same period in 2023, with a total of 1,154,280 registrations.
• Although sales for petrol cars grew slightly by 1.5%, their overall market share fell to 54.7% (down from 56.8% in 2023).
• So far, 2024 has been a strong year for new BEV and hybrid sales.
• BEV sales saw a YoY growth of 10.5%, but it was PHEVs that saw the largest increase (28.2%).
• Diesel is the only powertrain type that sold less YoY, with a total of 74,928 registrations (down 11,541 from January-July 2023).

Source: SMMT

New car market forecast for late 2024

• According to the SMMT, whilst overall market growth in 2024 is anticipated, expectations have been “revised downwards” since April, with a total of 1.968 million new car registrations now forecast by the end of the year.
• In August, the forecast for BEV market share was downgraded to 18.5% from April’s 19.8% projection. This forecast accounts for the recent interest rate cut, but it was noted that further cuts would help to reduce the cost of financing cars - and make buying new a realistic prospect for more consumers.
• The UK Government’s Zero Emission Vehicle (ZEV) mandate requires car manufacturers to ensure that at least 22% of their new car registrations in 2024 are BEVs – and levies penalties on any that fail to do so.
• However, considering the current industry outlook, many manufacturers are set to miss this target.

How many cars are there in the UK?

According to the latest DVLA data, at end of March 2024, there were approximately 33,734,500 registered cars on UK roads.

UK used car sales statistics (2023-2014)

UK used car sales by powertrain in 2023

Bestselling used car models 2023

UK new car statistics (2023-2011)