Electric vehicles and hybrids hit peak volumes
Electric vehicles and hybrids accounted for almost a fifth of all used cars stocked by dealers in November.
This represents a new high for alternatively fuelled cars, according to MOTORS & Cazoo’s Market View analysis.
Electric vehicles and hybrids made up 18% of all dealer stock last month, three per cent higher than the previous peak of 15% set in June.
The growth was driven by electric vehicles with volumes increasing by eight per cent month-on-month and 32% year-on-year to make up seven per cent of all listings. Meanwhile, hybrids grew three per cent month-on-month and 13% year-on-year to take an 11% share.
Demand was particularly high for older vehicles, with models aged five to 10 years old up 91% year-on-year and those in the two to five-year category up 52%.
Increasing confidence
Lucy Tugby, marketing director of MOTORS & Cazoo, said: “Our Market View analysis reflects the increasing confidence dealers have in stocking EVs as more units enter the used car market.
“In addition, the softening of EV prices, now tracking at nine per cent lower than 12 months ago, make them more affordable to a growing number of buyers considering making the switch.
“However, over the coming months we will see whether the Budget’s announcement of a pay-per-mile fuel duty on EVs from April 2028 will dampen some of this enthusiasm.”
