Used EV sales jumped a massive 67% in the second quarter of the year, helping the secondhand market return to growth.
Secondhand EV transactions reached almost 111,000 between April and June as the variety and number of vehicles on offer continues to grow.
The Society of Motor Manufacturers and Traders, which released the data, said that this growing choice along with the continued fuel price volatility helped deliver the strongest quarterly growth for EVs since the start of 2024.
While pure petrol and diesel transactions dropped, the 110,761 EV sales along with strong performance for hybrids helped the overall market climb 0.7%.
EVs accounted for a record 5.5% of used car transactions, up from 3.3% a year ago.
Mike Hawes, SMMT chief executive, said, “A return to growth is good news for motorists and the wider automotive sector, with sales of used EVs rising particularly strongly as more choice reaches more buyers. As the used market is where most people buy their cars, plentiful and affordable supply is vital.”
James Hosking, managing director of used car marketplace AA Cars, said that the latest figures showed the positive impact of falling prices, a wider choice of vehicles and better understanding of the running cost benefits EVs deliver.
He commented: “We are seeing a clear shift in consumer behaviour, with demand for used electric vehicles continuing to accelerate.
“With fuel prices remaining unpredictable and the cost of living putting pressure on household budgets, motorists are becoming much more conscious of running costs when choosing their next vehicle.
“Price still remains one of the biggest factors for anyone buying a car. A year ago, many drivers may have looked at electric cars and decided they were simply too expensive. That picture is changing.
“Our latest Used Car Index shows prices for the UK’s most searched-for used EVs have fallen by 10% in the past 12 months, and models such as the Nissan Leaf, Renault Zoe and Hyundai Ioniq are now within reach of far more buyers.
“As lower prices combine with reduced running costs, more buyers are feeling confident about making the switch.”
Hosking predicted that buyers should be able to secure an even better deal on used EVs in the second half of the year as more used models hit forecourts.
He noted: “A stronger new car market over the past 18 to 24 months is now feeding through to the used sector, increasing availability and giving buyers more choice, especially as drivers become increasingly focused on value for money and running costs.
“Buyers and sellers alike should expect to see more room for haggling, as the supply of second-hand vehicles increases.”
