- Used EV sales in the UK have hit record highs, according to new data published by the Society of Motor Manufacturers and Traders (SMMT).
- In the third quarter (July 1st to September 30th), 80,614 used electric cars switched hands, which is up 44.4% on the same period last year.
- This means that now, fully-electric cars account for 4% of the UK’s used car market, but with EV sales at record highs, could we see a dramatic rise in used market share over the next few years?
Used EV popularity rises in the UK
The record year-on-year growth in used EV sales can be attributed to the impressive growth in new electric car sales we’ve seen over the past few years, with new EV sales seeing their best month on record back in September.
It’s no surprise that a rising number of buyers are choosing to go electric on the used car market. Electric hatchbacks such as the Vauxhall Corsa can be bought for well under £10,000 when just a few years old, whilst longer range EVs such as the Tesla Model 3 and Tesla Model S can also regularly be found for under £15,000. And, with EV battery testing schemes such as Generational showing that used modern EVs have minimal degradation, it’s a consumer decision that can be made with confidence.
The UK’s Employee Car Ownership Schemes have helped ensure a healthy supply of new electric cars, which filter down to the used market as more affordable options a few years down the line. From October 2026, the government is set to tweak the scheme, which will impose a company car tax levy against these vehicles. However, the SMMT has warned that this could have the effect of reducing new car registrations by as many as 80,000 vehicles a year, hampering the availability of affordable used EVs on the market in years to come.
SMMT Chief Executive, Mike Hawes, commented:
“With used EV uptake at a record high, a robust used car market is essential for fleet renewal, and helps make electrified mobility more accessible for more motorists. However, overall consumer choice and affordability are at risk if the government scraps Employee Car Ownership Schemes, a move that would stifle supply of the very latest vehicles into the used market and cut Exchequer revenue. Britain needs fiscal policy that promotes rather than prevents economic growth, social mobility and decarbonisation.”
