Buyers turn to older used electric vehicles
The average age of used electric vehicles sold in May rose from four years to 5.5 years, according to Dealer Auction’s EV Performance Report.
Meanwhile, average mileage of sold electric models increased by 6,000 miles to 41,017.
The report also found that average sale prices fell slightly to £13,844, with dealer margins falling £500 to £3,130.
In terms of fuel types, hybrids accounted for nine of the top 10 models, led by the Volvo XC60 and XC40. The list also included two Lexus models and four Toyota models.
Mature hybrids
Dealer Auction marketplace director Kieran TeeBoon said: “May has seen a rebalancing after the rush to EVs during the first stages of the Middle Eastern conflict and the resulting pressures on fuel. It’s especially interesting to see the performance of mature hybrid models.
“Overall, May saw a solid performance for trade AFVs. But looming concerns in the UK new car space – including high manufacturing costs and trading relationship uncertainty – once again shine a light on the importance of fiscal policy in bolstering a healthy new AFV market, ultimately benefitting the used market.”
He added:
“April saw a more diverse set of top performers, while May saw a clear flight to familiar favourites. It will be interesting to see if either month has been an anomaly or the start of a new trend.”
