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High Demand For Used Hybrids And EVs In The UK

High Demand For Used Hybrids And EVs In The UK
Jamie Jones
Written by Jamie Jones

Data from the Society of Motor Manufacturers and Dealers (SMMT) show that hybrid electric, hybrid and plug-in vehicles are becoming increasingly popular as low-emission cars and zero-emission cars are reaching the market every time more the occasion.

Almost 30,000 alternative fuel vehicles have been sold in the last three months, 28.6% more than in the Q2 of 2018, while demand for electric cars spurred to 8.3%.

Despite noteworthy gains in the low-emission car market, conventional cars still accounted for 98% of all vehicles used, of which 47.5% were diesel powered. The increase in the residual value of gasoline and diesel cars, however, stated that owners are using their cars for long-term basis.

Superminis continued to be the most used purchases, despite a 3.3% drop in the quarter, with 682,729 units sold in the third quarter and more than two million in 2018 so far. There was also a 6.2% increase in the sale of dual-use vehicles and an increase in the number of executive cars by 2.4%.

In the third quarter of 2018, 2,057,457 used cars were sold in the UK, down by 2.1% over the same period in 2017. This is the busiest month for used car sales, although August was the best selling month of 2018. A total of 6.1 Million used cars were purchased, since the beginning of 2018.

Among the cars sold in the Q3, 431,000 vehicles were black, making it the most popular color choice for the third consecutive quarter. Silver and blue were second and third, while orange car sales rose 9.9 percent and 17.1 percent less for green cars.

This announcement follows the government’s recent declaration that the government will no longer provide financial incentives to buyers of plug-in and hybrid vehicles. This means removing a crucial incentive for potential buyers of new low-emission cars.

While manufacturers stop producing diesel vehicles, buyers tend to opt for gas rather than for rarer and less accessible options of alternative fuel.

About the author

Jamie Jones

Jamie Jones

With an experience of 4 years, Jamie has evolved herself as a resourceful content writer in the field of Business. With her pool of knowledge and concepts regarding Business makes it simple for her to present it to the readers in a much more understandable manner. Apart from this, she also maintains her personal blog relating to shares and markets.

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