Used electric vehicles selling quicker than ICE models

Three-year-old electric vehicles are selling faster than petrol and diesel equivalents, according to new analysis by cap hpi.
It found that electric vehicles in the three-year category sold in an average of 42 days at the end of January, compared to 48 days for petrol models.
Meanwhile, hybrids in the same age category sold in 43 days on average and plug-in hybrids sold in 47 days.
Chris Plumb, head of current car valuation, at cap hpi, said: “The first half of the month showed very little change in the average number of days to sell. However, mid-January saw average days to sell beginning to reduce, particularly improving for franchised dealers, indicating that the used retail market is gathering more momentum.
“The retail market remains stable, showcasing robust consumer demand for BEVs especially, for the vehicles aged between three to five years old as they can offer exceptional value for money.
“Values for BEVs at the three-year benchmark experienced a little more pressure throughout January as volumes increased through wholesale channels, following several months of stability. However, conversion rates and average days in stock have remained stable and consistent with those of other fuel types.”