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Sales of used electric cars hit record levels - and prices are starting to RISE

Sales of used electric cars hit record levels - and prices are starting to RISE

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Purchases of second-hand electric cars continue to hit record levels as more examples stream into the used market, new figures show.

Some 53,423 EVs changed hands between July and September, the Society of Motor Manufacturers and Traders (SMMT) has confirmed - an increase of 57 per cent year-on-year and the most ever recorded in a three-month spell.

And used values are on the rise too, according to experts, who unanimously say that the second-hand EV market had been at rock bottom but has now taken a turn with prices increasing - while every other fuel type has dipped.

(Used EV sales continue to reach record levels as more examples enter the second-hand market.)

Looking at the entire used car sector as a whole, EV still account for a very small fraction of activity.

Despite EV transactions being at their highest level ever, they still only account for two in every 50 motors changing hands.

In the three-month period, just 2.7 per cent of all used car sales were battery electric models, the official figures show.

This is understandable, given there are just under 1.3million EVs on the road (as of the end of October) out of 34million passenger cars in total.

Unsurprisingly, it is used petrols that are changing hands most commonly - 1.12million between July and September (up 5.7 per cent).

Diesel demand still remains high despite a cliff-edge decline in new sales in the last decade
Some 680,000 second-hand oil burners were purchased in Q3 2024.

(The Ford Fiesta - Britain's most common car - was unsurprisingly the model that changed hands most between July and September)

(More second-hand examples of Ford Fiestas, Vauxhall Corsa, VW Golfs and Ford Focuses changed hands in the three-month period)

Ford's Fiesta - the most popular car on UK roads - was the most bought and sold, with 77,908 changing hands between July and September, which is around 24,500 more than EVs across all brands.

In fact, more second-hand Vauxhall Corsas (64,681), VW Golfs (59,380)

and Ford Focuses (57,327) changed hands than all EVs in the quarter.

(SMMT chief exec Mike Hawes said a rise in used EV sales was testament to an increase in availability of 'zero-emission vehicles to suit every budget')

The SMMT said on Tuesday that registrations of new cars fell by 6 per cent in October compared with the same month in 2023.

However, EVs were the only fuel type to record a year-on-year increase.