LSE: 819.00 GBP -6.40 (-0.78%)
Menu
Close
08 February 24 Press releases

Used car transactions 2023 

 

  • Robust overall demand in 2023: 910 million visits to Auto Trader in 2023, up 14% year-on-year, continuing trend of positive growth (+35% 2019)
  • Big increase in views of electric cars (new and used): up 37% YoY.
  • EV buyers cross shop: EV buyers consistently cross shop new and used EVs, with 9 in 10 new EV considerers also looking at used EVs, whilst half of used EV considerers look at new.
  • Black cars most popular: black cars received 552 million views on AT in 20223. Grey received 415m, and white 333 million.

 

Against an uncertain economic and political backdrop last year, the used car market again showed its resilience, with overall demand remaining exceptionally robust, reflected in the over 110m additional visits to Auto Trader. There’s no doubt the months ahead will have their challenges, not least the ongoing squeeze in supply, but the used car market has started the new year with some real momentum behind it, with visits to our marketplace reaching an all-time high in January. With car buyer sentiment and confidence remaining positive, I fully expect 2024 to be another robust year for demand and transactions.

Key spokesperson

Ian Plummer

Commercial Director

CONNECT

Plummer continued: " The maturing used electric market may still be in its infancy, but last year saw a definite growth spurt. Significantly softened prices, greater availability and more choice has proven a compelling combination for car buyers; demand on our marketplace surged 50% on 2022, the share of enquiries almost doubled, and used EVs sold five days faster than any other fuel type. With many second-hand models now at price parity with their traditionally fuelled counterparts, along with lower running costs, the switch to electric has never been a more attractive prospect.

"The used EV market will play a vital role in driving mass adoption of electric cars, but the government must do more to encourage car buyers to switch; building battery confidence, providing fairer charging costs, and introducing more financial incentives, including removing VAT on new and used EVs, will be essential.”

Share:
Up next
Auto Trader data to power Office for National Statistics' official measures of inflation
Read More
Retailers embracing digital are reporting more sales, more efficiency and more satisfied customers
Read More
Auto Trader is first FTSE 100 to achieve Gold Carbon Literacy status
Read More

Stay up to date

Follow us on our social channels to keep up with the latest news, insights and company developments.

 

If you would like to be added to our News & views mailing list, or have any media-related enquiries, please contact our press team:

Auto Trader UK

Auto Trader Insight

Auto Trader Life

Other Group sites

Looking to join the team?

Careers

Looking to buy or sell a vehicle?

Consumers

Keep in touch

Sign up to our email alerts service:

RNS alerts

Join our news & views mailing list
or submit media-related enquiries:

Contact our press team
  • @2024 Auto Trader Group plc. Registered in England with company number: 09439967.