Two thirds of dealers say consumer demand for used EVs is on the up

Over 60% of car dealers have found that the demand for second-hand EVs is improving.

The latest data from the monthly Startline Used Car Tracker survey shows that customer interest in used electric cars is at an all-time high as the market continues to mature.

Aprils’ data, taken from a survey of buyers and dealers, represents a jump of around 15% in just one month as dealers report more interest and quicker turnaround of vehicles.

Startline CEO, Paul Burgess, explained: “This figure was just 50% last month and as low as 45% in our research as recently as November, suggesting that there has been quite a marked and rapid change in the views of dealers.

“Certainly, there are reports from a variety of sources that used buyer demand for EVs is now bordering on buoyant, with fast stock turnaround times and a general sense of maturity appearing in the market.”

The latest figures support data from other sources showing a boom in the used EV sector. Earlier this year, the Society of Motor Manufacturers and Traders reported a 57% year-on-year jump in second-hand sales, and in February Cap HPI reported that second-hand electric cars were selling faster than petrol or diesel models.

Despite positive consumer demand on the used market, dealers are reported to still be skeptical about EVs. The Startline survey found that 38% were found to be positive about EVs; a drop from 43% in February. According to Startline, this is due to EV price and value volatility, with just 28% of dealers asked saying that the situation was improving in this area.

Further findings paint an equally pessimistic picture, after it was found that 57% of dealers said that the move to EV-only stock is the biggest challenge to the future of their business ahead of finance availability and stock supply.

Burgess added: “Taken together, all these statistics paint quite a complex picture when it comes to the used EV sector. While consumer demand is probably improving, there is clearly some concern among dealers that the journey to electrification is going to remain a bumpy one.”