With the 74 plate change coming – there will soon be a flood of second hand EVs
In the UK, the unique number plate system means that every vehicle’s age is immediately recognisable. Twice a year, in March and September, the registration plates change, marking a clear divide in a vehicle’s perceived age. This peculiar quirk leads to a surge in new car registrations just after each change, as buyers aim to secure a vehicle that appears younger. For those looking to sell, the day before a plate change can make their car seem up to six months older, while those buying just after the change benefit from a vehicle that looks six months newer, regardless of its actual registration date.
Electric vehicle (EV) registrations in the UK have seen a significant surge from 2020 onwards, as the country began to embrace greener transportation options more rapidly. The growth has been spurred by increasing consumer awareness, government incentives, and a wider range of EV models becoming available. This means that the years between 2020 and 2023 represent a period of substantial growth for EV ownership in the UK, with more EVs hitting the roads than ever before.
As we reported just over a year ago, the average price of second hand EVs seems to continue to drop by close to 20% year on year. In the year 2020, that meant very little, but it will have much more significance next month. In the last two years alone, global shipments of EVs have jumped by 70%.
Read more: WhichEV
