Tesla Model 3 tops fastest selling charts
The Tesla Model 3 is the fastest selling used car in the UK, according to new data released by Autotrader.
It found that the Tesla Model 3 found a buyer in just 17 days on average during July, which is almost two weeks faster than most other used cars.
The second fastest selling used car in the month was also an electric model, the Jaguar I-PACE, which sold in an average of 18 days.
This represented a wider trend in the market, with used electric cars going from the joint slowest selling fuel type in June (32 days) to the joint fastest (28 days).
Electric Car Grant
The surge in interest coincided with the introduction of the government’s Electric Car Grant, with Autotrader reporting that enquiries on new electric cars priced at £37,000 or less doubled within a single day following the announcement.
However, used EVs still generated 15 times more enquiries than new electric cars, while the volume of used EV enquiries has grown 92% since June 2023.
Marc Palmer, head of strategy and insights, said: “The speed at which used cars sell is a strong indicator of the health of the used car market. The clear spike in electric vehicle demand this month is encouraging – whenever EVs make headlines, we consistently see a boost in consumer interest not only for new cars, but in the used EV market as well.
“These dynamic shifts present valuable opportunities for retailers, but only if they’re equipped with the right insights. So, I’d really encourage retailers to analyse the data and insights available to help spot the most profitable stock for your forecourt.”
