Demand for used electric vehicles rising
Demand for used electric vehicles is spiking in September, according to Indicata’s latest Market Watch report.
It found that used electric vehicles have so far made up 8.2% of the UK used car market – a rise from 7.6% in July – while sales of other powertrains fell or remained largely static, with petrol sales up by 0.4% to 46.3%.
The country’s top-selling used car remains the Ford Puma followed by the Vauxhall Corsa while the fastest-selling used cars are currently all electric – the BMW i3, Tesla Model 3 and Mercedes EQB.
Meanwhile, Indicata has also reported that Market Day’s Supply of electric vehicles has fallen to a record low of 44 days in early September as consumers look to switch to running a zero-emission car.
Market Days’ Supply is derived from dividing the current supply of inventory by the average daily retail sales rate over the past 45 days, and a lower number signifies high demand and quick sales.
Demand rising
Dean Merritt, Indicata’s head of sales, said: “Our wholesale MarketPlace used car platform has seen dealer used EV demand rise throughout the summer to cater for a growing consumer demand. It is another positive step forward for the used EV sector.”
He continued:
“The industry has been looking to a strong September new car market to help kick start a growth in used car volumes. However, it looks as though it will be some time before supply fully meets demand. In the meantime, prices are likely to continue to rise.”
