Used electric vehicles (EVs), on average, are selling faster than petrol or diesel vehicles, according to digital remarketing firm Motom.

The digital marketplace examined data over the past four months and found that EVs sell in 17 hours and one minute, which is one hour and 15 minutes faster than internal combustion engine (ICE) vehicles.

The study also showed that EVs achieved 106.87% of Cap Live, with ICE vehicles at 106.39%.

Julian Humphreys, co-founder and CEO of Motom, said: “The data shows that confidence in used electric vehicles continues to grow. There is a clear buyer appetite for the right EV, and demand has recovered since the middle of last year.

“Buyers are still selective around EVs; the swing in terms of cap performance runs from 103% to 119.5%. We’ve found that demand remains constant, and we don’t hold special EV sales as buyers come from all corners of the market.”

Motom provides a digital wholesale marketplace for vendors and buyers and has grown quickly since its launch in late 2022.

“Our fastest vehicle sold in 19 seconds,” continued Humphreys. “In a dynamic market, it’s essential to remarket vehicles quickly and effectively to take advantage of market trends.”

Used electric vehicle stock

Used Electric Vehicles (EVs)Read more: FleetNews

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