Secondhand electric vehicle (EV) sales helped the UK’s used car market grow for the sixth successive quarter, figures from the Society of Motor Manufacturers and Traders (SMMT) show.
Used battery electric vehicles (BEVs) recorded a 52.6% increase in sales, reaching a record market share of 2.4%. Sales of plug-in hybrids (PHEVs) and hybrids (HEVs) also grew, up 25.2% to 21,580 units and 43.6% to 78,782 units respectively.
The record numbers for Q2 continue the upward trend seen in Q1 this year, when sales of used BEVs increased by 71%.
SMMT attributes the rise in the used car market as a whole (including petrol and diesel vehicles) to the new car sector’s sustained growth. However, the growth seen by the used EV market is particularly positive in light of dropping new BEV sales.
The trade association reduced its forecast new car sales for the year, blaming low EV demand. The majority of new electrified vehicle sales were by fleet owners and operators; these latest figures suggest that private EV demand is not low, per se, but reduced by costs.
Andersen EV charge point – closed and open (Image: Tanjent)
EVs still make up only a fraction of the secondhand market, in part because the relative newness to the market means fewer are available and, as a result, prices do not decrease as fast as they might for internal combustion engine (ICE) vehicles.
There are also concerns raised over battery degradation, the suggestion being that the range an EV can travel without charging will decrease.
Read more: Current+
