Man holds charging cable in front of EV bonnet

Second hand EV sales soar

By
Nic Ryan
Published

Data released from the Society for Motor Manufacturers and Traders (SMMT) shows that there has been a huge surge in sales of used electric vehicles (EVs).

Sales of second-hand EVs grew almost 82% year-on-year during the second quarter of 2023.

The figures released by the trade association show more than 30,000 used battery EVs changed hands in the UK during the last quarter through to the end of July, taking EVs share of the second hand car market to 1.7%.

Sales of used petrol and diesel cars fell to 94.3% from  95.7% last year.

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“It’s great to see a recharged new car sector supporting demand for used cars and, in particular, helping more people to get behind the wheel of an electric vehicle,” said Mike Hawes, SMMT Chief Executive.

“Meeting the undoubted appetite for pre-owned EVs will depend on sustaining a buoyant new car market and on the provision of accessible, reliable charging infrastructure powered by affordable, green energy.

“This, in turn, will allow more people to drive zero at a price point suited to them, helping accelerate delivery of our environmental goals.”

The EV market has expanded rapidly in recent years, with more than 260,000 new electric cars registered last year, up from 15,000 in 2018.

‘We may look back at the second quarter of 2023 as a turning point in the fortunes of electric vehicles in the UK,” said Kevin Pratt, car insurance expert at Forbes Advisor.

“The transition away from internal combustion engines only has a hope of succeeding if there is a buoyant second-hand EV market, with affordable options for those who cannot afford the high price of new vehicles.

“ An increase of over 80% in the sale of second hand EVs in the period April – June confirms there is a rapidly growing appetite for these cars, facilitated by the growth in new EV sales over previous quarters. The market is maturing fast.”

 

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