Used electric car market at a tipping point
The used electric car market in the UK grew by nearly a third in the first quarter of the year.
This follows a 45% increase in 2025 and means the sector has now reached a tipping point, with rising demand and values making them an increasingly attractive option for retailers.
Speaking at the Annual General Meeting (AGM) of the Vehicle Remarketing Association (VRA), director of Browns of Richmond Fraser Brown said that higher fuel prices have driven interest in electric vehicles in recent months, and greater understanding of the cost advantages has seen a marked increase in sales.
He said: “Recent increases in petrol and diesel prices have definitely been a factor. We can show potential buyers that as long as there is space at home for a charger they should save a typical £154 a month on a two-to-three-year-old small car by going electric.
“Buyers come to us in a state we describe as EV-curious and we embark on a process of education about what they can expect from electric car ownership. By their third conversation, we have generally won them over.”
Growth
Brown revealed that electric vehicle sales at Browns of Richmond has grown from 20 to 130 a month, with Stuart Pearson, COO at BCA, reporting similar growth in demand.
He said: “We’ve seen first-time auction conversion rates increase from around 70% to more than 90% in recent months. Demand is now strong across most electric vehicles and it feels as though the market has turned a corner.
“Even in the van sector, which has been much slower to electrify than cars, there are signs of growth. Whilst EVs account for only a small proportion of our overall light commercial vehicle sales, acceptance among potential buyers is growing.”
