---
title: "A Budget boost for the used EV market - set for 10% UK market share"
date: 2024-11-01
url: https://marketcheck.uk/press/budget-boost-used-ev-uk-market-share
type: post
description: "UK's electric vehicle market is experiencing growth, thanks to new budget allocations. As interest in used EVs rises, discover the latest insights into this shift."
---

# A Budget boost for the used EV market - set for 10% UK market share

Alastair Campbell, Marketcheck UK, reacts to the Budget:"With tax-efficient incentives in company car schemes now extended and increased Vehicle Excise Duty rates on fossil-fuel vehicles, these measures should accelerate EV adoption across the sector.

Marketcheck UK data highlights the transformative growth of used EV sales: in September 2024, 14,839 used EVs were sold across the UK, marking a significant rise from 8,248 in the same period last year. This momentum is forecast to continue, particularly as more EVs come off lease and flow into the used market at competitive prices, making EV ownership increasingly accessible to UK businesses and employees.

Marketcheck UK’s analysis shows the value of all used EVs on the market surpassed £1 billion over the summer, reflecting both volume and consumer confidence. Today, EVs make up 7% of the used car market, and Marketcheck UK forecasts this share will approach 10% in the coming months. With sustained government incentives in place, the used EV market is now on a faster trajectory towards a 50% market share, exceeding earlier industry projections. Despite the encouraging developments for businesses, Marketcheck UK notes a lack of direct consumer incentives in the Budget. While businesses and employees benefit from salary sacrifice schemes, consumers still face limited incentives, which may delay broader private adoption of EVs.

Overall, this Budget is set to quicken the pace of change within the used car market, with EVs set for a market share of 10% in a matter of weeks."

**ENDS**

### Notes to Editor

#### **EV report:**

**Month**

**Volume of all Electric EVs**

**Volume of Sold Electric EVs**

**Avg Price - Stock (GBP)**

**May 2023**

22,473

7,073

29,105

**June 2023**

22,190

7,516

29,006

**July 2023**

21,995

7,512

29,001

**August 2023**

22,064

8,458

29,111

**September 2023**

21,971

8,248

29,239

**October 2023**

23,165

7,396

29,199

**November 2023**

25,238

7,514

28,741

**December 2023**

26,931

6,792

28,765

**January 2024**

31,297

10,135

27,864

**February 2024**

32,463

10,343

27,463

**March 2024**

34,791

11,683

27,919

**April 2024**

35,923

11,225

28,357

**May 2024**

37,334

12,889

27,634

**June 2024**

37,000

13,421

27,306

**July 2024**

37,903

13,939

27,044

**August 2024**

36,789

15,082

26,865

**September 2024**

35,666

14,839

26,626

### **About Marketcheck UK:**

We are the best source of UK automotive data. We collate, enhance and manage more data on the UK used car sector than any other provider.

For any automotive businesses we bring unprecedented access to live data to power apps, populate reports and get insight into the UK used car market.

We track over 650,000 cars and 11500 dealers across 16k locations daily and match the data against the DVLA, SMMT and other data sources for normalisation and accuracy.

[https://marketcheck.uk/](https://marketcheck.uk/)

### **Contact:**

Alistair Harrison  
07498 217705  
[alistair@ahcomms.org](mailto:alistair@ahcomms.org)