7.6 Million Used Cars Sold in 2024 (UK)

UK Used Car Market Hits New High!

Did you buy a used car in 2024? If so, you were far from alone! In fact, a staggering 7.6 million second-hand cars changed hands across the UK last year, marking a 5.5% increase over 2023. That’s over 400,000 more transactions—or nearly half a million extra cars moving from one driveway to another.

According to the Society of Motor Manufacturers and Traders (SMMT), this also marks eight consecutive quarters of growth for the used car market. But what’s really happening here? Why are more people snapping up second-hand motors, and which cars, colours, and fuel types are topping the charts? Let’s break it down.

What’s Driving the Boom in Used Car Sales?

Put simply: more choice and better prices.

With the new car market recovering, more pre-loved vehicles are trickling into the second-hand space, meaning buyers have more to pick from. More availability naturally drives competition, which means prices are more appealing to those looking for a decent set of wheels without the hefty price tag of a brand-new motor.

And it’s not just a one-off trend. Every single month in 2024 saw a rise in used car sales compared to the same time in 2023. People are clearly prioritising value, and with the cost-of-living crisis still lingering, buying smart has never been more important.

The UK’s Most Popular Used Cars in 2024

Superminis once again dominated the used car market, with a third of all transactions (32.3%) going to these compact and practical runabouts.

No surprises on which cars topped the best-sellers list:

The Fiesta, despite Ford killing it off, remains the king of second-hand sales, proving that Britain still loves a small, affordable hatchback. Meanwhile, SUVs saw the biggest growth (+10.7%), reflecting their continued dominance in the new car market. Let’s be honest, though—most of these “off-roaders” will never see a muddy trail. They’ll spend their lives mounting kerbs outside coffee shops or ferrying kids to school.

Luxury saloons? They flopped. Just 0.5% of used car sales were big, plush executive barges. No shock there—once those hefty price tags plummet with depreciation, the eye-watering running costs make them a harder sell.

Black Still Rules the Roads (But There’s Hope for Colour)

Want to know the most common car colour in the UK’s used car market? Black. Again.

If you combine those top three colours, over half (55.1%) of the cars on UK roads are just variations of grey-scale gloom. But if you fancy standing out, some braver buyers went for:

• Turquoise – the fastest-growing colour (+11.2%)
• Pink – 5,171 people dared to go bold
• Maroon – rising up the ranks, now ahead of cream

So while the UK’s car colour palette remains as exciting as a wet Monday in February, there’s still a glimmer of hope for those who want something a bit different.

Petrol, Diesel, Hybrid or Electric – What’s Powering the UK’s Used Cars?

Now, this is where things get really interesting.

• Petrol is still king – 57.1% of all used car transactions (+6.8%)
• Diesel is on the decline – down 2.4% to 35.0%
• Hybrids are surging – sales jumped 39.3% (306,114 units)
• Plug-in hybrids (PHEVs) are also climbing – up 32.2% (92,120 units)

But the biggest shock? Used electric cars (EVs) hit record sales – up 57.4%! That’s 188,382 transactions, which is 13 times larger than in 2019. In Q4 alone, used EVs grabbed 2.7% of the market.

So, are people suddenly going green? Well, not exactly. What’s really happening is that the massive price drops on new EVs, led by Tesla’s price cuts last year, pushed down used EV values. Suddenly, cars that seemed out of reach became affordable, tempting buyers who might have otherwise ignored them.

But hold on—there’s a major problem looming… Used EV Prices Are About to Climb Again! Here’s Why. If you’re thinking of grabbing a used EV bargain, you might need to act fast. From April 2025, the UK government is introducing new taxes on electric cars:

• Vehicle Excise Duty (VED) will apply to all EVs – no more road tax exemption
• Expensive Car Supplement (ECS) will hit EVs over £40k – an extra £410 per year for six years!

Now, think about that. Many new EVs were over £40k when first sold, even if their used value is now half that. But because this tax applies to the original price, buyers of used EVs could still get slapped with this additional charge. This could slow down the used EV boom, making petrol and hybrid cars even more attractive as a safe bet for used buyers.

Final Thoughts – What’s Next for the Used Car Market?

So, what does all this mean?

• Used car demand is STILL growing – and there’s no sign of it slowing down.
• EVs are selling more, but new tax policies might hurt demand in 2025.
• SUVs and hybrids are gaining traction, but petrol is still the go-to choice.
• If you’re thinking about buying a used car, 2024 was a great time, but keep an eye on shifting prices in 2025, especially for EVs.

So, what do you think? Are you surprised by these trends? And if you were buying a used car tomorrow, what would you go for?

Drop a comment below and let’s chat about it!

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