Used electric vehicles set sales pace, reports Cazana
Used electric vehicles were the fastest selling fuel type in April, with sales volumes in March and April a third higher than in January and February.
According to analysis carried out by Cazana, high petrol prices are driving demand for electric vehicles.
Meanwhile, used electric vehicle prices were up 1.1% with hybrids rising 0.9%, while average petrol prices actually decreased by 0.5%.
Derren Martin, automotive expert at Cazana, said: “The used car retail market in April continued in a similar vein to the earlier months this year, with its overall strength. Volumes increased, but dealers remained keen to edge prices up where possible, increasing margins slightly.
“As predicted, we are now seeing a surge in the sale of used electric vehicles, although whether demand will match supply in the long term remains to be seen, with manufacturers focusing more on new car electric vehicle sales than used.
“It will be interesting to see whether retailers can continue to edge prices up in May, traditionally a slower month due to Bank Holidays distracting consumers from the forecourts and continued concerns from the war in the Middle East.”
