Used EV numbers hit new high

The number of electric vehicles stocked by used car dealerships reached a new record high last month.

Analysis from digital marketplace Motors found that alternative fuelled cars made up around 13 per cent of the vehicles listed on its site.

Meanwhile, five per cent were pure EVs, which is up from 3.5% in the same month last year.

The rise is being driven largely by car supermarkets, where the proportion of EVs has increased from two per cent to seven per cent in a year, with hybrids up from seven per cent to 10%.

Meanwhile, as volumes go prices have gone down, with average EVs in May priced at £27,241. This is three per cent lower than April and 10% down on May 2023.

Lucy Tugby, marketing director of Motors, said:

“We are starting to see some evolving trends in the used EV sector as a result of greater numbers becoming available and falling wholesale values driving down retail prices. Consequently, dealers are showing more confidence in sourcing EV stock, while lower prices are opening up consideration for more buyers, as reflected by a rise in ad views in May. It’s a trend to watch but it’s still early days.”