The UK used car market saw a 5.5% sales increase in 2024, with 7,643,180 transactions, according to the Society of Motor Manufacturers and Traders (SMMT).
The organisation said growth in the new car market had fuelled availability and wider choice for second-hand buyers.
According to the SMMT, the market has now seen growth for eight consecutive quarters, and also saw growth in every month in 2024.
There was a 57% rise in used EV sales, with these accounting for 2.5% of the market. Used plug-in hybrid sales rose by 32.2%, taking 1.2% of the market, while conventional hybrids saw 39.3% growth for a 4% market share.
SMMT chief executive Mike Hawes said: “The used car sector’s 25-month growth streak is good news for fleet renewal and for consumers benefitting from the greater choice filtering through from the new market.
“Record sales of second-hand EVs also demonstrates strong appetite for these cutting-edge cars at lower price points.
“Ensuring ongoing growth, however, means maintaining that affordability, along with supply, which requires meaningful fiscal incentives to stimulate consumer demand for new EVs and removing the VED expensive car tax disincentive that risks dragging down used EV affordability for years to come.”
Reacting to the figures, Cox Automotive insight director Philip Nothard said: “The 2024 used car transaction results show 5.5% year-on-year growth and, more notably, a 3.6% increase above the pre-pandemic 2001–19 average, a positive sign of steady recovery for the UK’s used car market. This growth inspires optimism amid ongoing challenges in the wider automotive sector.
“With supply constraints and consumer confidence pressures still looming in 2025, any further gains will serve as a testament to the resilience of the second-hand market.”
Despite having been discontinued in 2023, the Ford Fiesta was still the UK’s top-selling used car last year, with 306,207 transactions, ahead of the Vauxhall Corsa with 252,761, and the Volkswagen Golf with 231,440.
Completing the top ten were the Ford Focus (228,220 sales), Mini hatch (160,516), Vauxhall Astra (159,495), BMW 3 Series (158,674), Volkswagen Polo (151,786), Nissan Qashqai (138,810), and BMW 1 Series (125,440).
