Second-hand electric vehicle sales soar to record levels

Boosting the second-hand market is crucial to increasing the reach and affordability of electric vehicles, however, the sales accounted for 1.7% of the total used car market.

Sales of second-hand electric vehicles (EV) rose by more than 80% in the three months to June, indicating increasing demand for more affordable zero and low-emission cars.

More than 30,500 of the battery-powered vehicles changed hands in the second quarter this year, an 81.8% rise on the same period last year.

Those sales accounted for just 1.7% of the total second-hand market, which while a record for the sector, demonstrates the scale of the adjustment required in the UK’s vehicle fleet before a ban on new internal combustion engine (ICE) vehicles in 2030.

Low-emission plug-in and hybrid vehicles are also growing in popularity in the used market, with sales up 11% and 30% respectively, according to figures from the Society of Motor Manufacturers and Traders (SMMT).

The market share of petrol and diesel vehicles fell as a result of the growth in electric car sales, but still accounted for almost 95% of 1.8m used vehicles sold in the quarter.

Boosting the second-hand market is crucial to increasing the reach and affordability of electric vehicles, which are still significantly more expensive to buy than ICE models.

Second-hand EV prices have been dropping in the last year however, with data company Cap hpi estimating a 35% fall in 12 months.

The EV market has expanded rapidly in recent years, with more than 260,000 new electric cars registered last year, up from 15,000 in 2018.

Read more: SkyNews

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