The UK’s used electric car market continues to grow as drivers look to get behind the wheel of second-hand EVs.
Fresh data from Autotrader shows that like-for-like used electric vehicle prices jumped by 3.8 per cent year-on-year, outpacing the average used car transaction (2.6 per cent).
EV values represented the strongest growth of any fuel type, as Britons become more interested in driving electric and have confidence in the used market.
Electric vehicles between three and five years old rose by an impressive 9.4 per cent to £20,351, marking a third consecutive month of annual price growth.
Zero emission vehicles in this age bracket also sold marginally quicker than all other EVs, at a rate of 26 days, compared to 28 days for used EVs overall.
Autotrader noted that demand was coming from premium and “enthusiast-led” models across all fuel types.
The strongest increase was for the Porsche Boxster, which saw a 20.2 per cent year-on-year rise, followed by the Alfa Romeo Giulia and Audi RS6 Avant.
For used electric cars, the Renault Zoe, Skoda Enyaq, MG5 and Kia Niro led for annual price growth.
The second-hand electric car market is becoming more popular as drivers embrace EVs
|
GETTY
Gurjeet Grewal, CEO of Octopus Electric Vehicles, noted that demand for used EVs on the platform has jumped by a staggering 150 per cent in the last 12 months.
He suggested that drivers were attracted to the suitable value that EVs offer, as well as the superior technology that can be obtained.
Mr Grewal added: “A thriving second-hand market also helps bring down finance and leasing costs, making new electric cars more affordable and helping more people make the switch.
“A strong used market is turbocharging the transition and driving thousands more to make the switch from petrol.”
The electric Renault Zoe led annual price growth on Autotrader
|
RENAULT
This was echoed by Tanya Sinclair, chief executive of Electric Vehicles UK, who described the uptake in used EVs as a “significant moment” for the nation’s transition.
She noted that data had answered the debate over where there could be a successful EV market, given that confidence continues to grow.
“Better residual values make finance more affordable, encourage investment and help more drivers make the switch. That’s how successful markets develop, and it’s exactly what’s happening,” Ms Sinclair said.
More premium models were seen on the top 10 used car price growth list, including the Skoda Enyaq (£26,216), BMW iX3 (£33,260), and the Volvo EX40 (£41,058).
The Audi A6 e-tron Avant EV saw the biggest year-on-year price drop
|
AUDI
The Audi A6 e-tron Avant saw the biggest year-on-year price drop, falling 24.4 per cent to £48,509, followed by the BYD Dolphin Surf and Nissan Ariya.
Toby Poston, chief executive of the British Vehicle Rental and Leasing Association (BVRLA), said: “The used market is where long-term confidence in any vehicle technology is ultimately established.
“The signs of consumer demand for used electric cars are encouraging, but the used EV market is still finding its feet after years of pricing pressure. Consumer confidence is building but remains fragile.
“Balanced policy, supporting drivers considering their next electric car, whether new or used, is what long-term success of the transition relies on.”