Why Did the UK Used‑Car Market Top Two Million Sales in Q2 2024?
Used car sales hit 2 million in Q2 2024 – see which models, colours and electric vehicles led the growth and what it means for buyers.
The UK used‑car market returned to growth in the second quarter of 2024, pushing total transactions beyond the two‑million mark for the first time since 2021.
Overall Market Performance
According to the Society of Motor Manufacturers and Traders (SMMT), 2,009,318 used vehicles changed hands in Q2 2024, representing a modest 0.7% increase on the previous quarter. This growth follows a 0.2% decline in Q1, ending a twelve‑month streak of expansion.
When the first and second quarters are combined, the total reaches 4,025,550 transactions – a 0.2% rise compared with the same period last year.
Electric and Hybrid Vehicles Lead the Surge
Used electric cars were the standout performers, soaring 67.0% to 110,761 registrations. The sharp demand spike in April and May coincided with higher fuel prices, prompting more motorists to consider zero‑emission options.
Hybrid electric vehicle sales also climbed, up 31.2% year‑on‑year. In contrast, plug‑in hybrids fell 6.8%, suggesting buyers are gravitating towards fully electric models rather than hybrid‑only solutions.
Fuel‑Type Breakdown
Petrol‑powered cars remained the most popular fuel type, but transactions slipped 1.2% to 1,121,243 units. Diesel sales continued their decline, dropping 7.2% to 620,045 units, a trend linked to the reduced registration of new diesel models.
Top‑Selling Models and Colours
The Ford Fiesta retained its position as the best‑selling used car with 73,570 units sold in Q2. It was followed by the Vauxhall Corsa (59,247), Volkswagen Golf (55,786), Ford Focus (52,283) and Volkswagen Polo (38,972).
Colour preferences showed black as the clear favourite, accounting for 423,238 sales. Grey ranked second with 377,108 units, while white completed the top three with 334,190 transactions.
Industry Insight
SMMT chief executive Mike Hawes welcomed the return to growth, noting that the rise in used‑EV sales reflects “more choice reaching more buyers”. He warned that the used market, which supplies the majority of UK motorists, depends on a plentiful and affordable stock.
Hawes added that “unrealistic targets in the new‑car market risk constraining that supply and pushing up costs”, and called for urgent regulatory reform to ensure a smooth transition for all drivers.
What the Growth Means for Buyers
For prospective car buyers, the data suggests a more diverse range of vehicles – especially electric models – is becoming available at used‑car prices. The slight dip in petrol and diesel sales may also translate into competitive pricing for those fuel types.
Dealers can expect continued interest in popular models such as the Fiesta and Corsa, while the strong performance of EVs signals that stocking a broader electric range could meet emerging demand.
Overall, the Q2 resurgence offers encouraging news for both motorists and the wider automotive sector, reinforcing the used market’s role as the backbone of UK car ownership.