USED CAR MARKET RECORDS 5.5% GROWTH IN 2024, EVS REACH RECORD MARKET SHARE
NFDA 10/02/2025
In 2024, the used car market grew by 5.5%, reaching 7,643,180 transactions. From October to December, transactions increased by 4.0% to 1,746,051, marking eight consecutive quarters of growth.
Throughout the year, demand for used battery electric vehicles (BEVs) surged by 57.4%, reaching a record 188,382 units and setting a new market share high of 2.5%, up from 1.7% in 2023. Sales of plug-in hybrids (PHEVs) and hybrids (HEVs) also saw significant growth, rising by 32.2% to 92,120 units and 39.3% to 306,114 units, respectively.
Petrol and diesel vehicles made up 92.1% of all used car transactions, a slight decrease from 94.3% the previous year. Petrol remained the leading choice, rising by 6.8% to represent 57.1% of the market, while diesel transactions declined by -2.4%, accounting for 35.0% of all sales.