Experian Automotive, part of the Experian Group – has released data which shows that the more economical and greener electric and hybrid vehicles are becoming more popular in the used car market.
Used electric car sales rose by 47.10% and hybrid used car sales rose by 24.16% compared to the same period last year (Q1 2013).
Andrew Ballard, principal consultant for Experian Automotive, said:
“Whilst low in number in absolute terms, we have undoubtedly seen an increase in electric and hybrid vehicles in new car sales, over the past few years.
“This has been encouraged by not only the vehicles’ known benefits, such as zero or minimal emissions and their exemption from road tax; but by the government subsidies given to drivers upon purchase.
“However electric vehicles tend to suffer from higher levels of depreciation according to the UK valuation guides, this is likely to be due to in part to the subsidy impact when new, which makes them exceptionally good value for money vehicle in the second hand market.”
Source: Fleet News