Used car market down but EVs buck trend

Record demand for used electrified vehicles, reports SMMT

The UK’s used car market declined in 2022, down -8.5% to 6,890,777 transactions,  according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).

The performance saw 640,179 fewer vehicles changing hands than in 2021, and remains -13.2% off 2019’s  pre-pandemic total, as the squeeze on new car supply – primarily due to the global shortage of semiconductors – restricted stock entering the second-hand market.

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