Dynamics in the used market are set to rival the complexity of the pandemic era, according to the latest Cox Automotive’s four-year market forecast.

It predicts that a dramatic decline in new diesel cars and a reduction in petrol registrations will have a profound impact on the used market.

The forecast – which includes fuel-type breakdowns for the first time - indicates that in the period 2024-27, EV share of registrations will grow 160% vs 2020-23 volumes to 2.3 million units or 28% of sales.

Hybrid will represent 25% of registrations, with two million units sold. This growth comes at a significant cost for diesel and petrol derivatives.

Diesel share over the four years will shrink to just 3%, with 62,000 units registered in 2027, while petrol, with 3.5 million registrations over the four years, will fall 12% to just a 35% share by 2028.