Demand surging for used electric cars
Demand for used electric cars is exceeding supply, driving a 2.7% increase in average prices in July, according to new data from Indicata.
Its August Market Watch found that electric vehicles made up 7.9% of all dealer stock compared to 5.2% in 2024, but sales have increased even faster, rising from 5.1% two years ago to 8.6%. However, despite surging demand and higher prices, a used electric vehicle is still 21% cheaper on average than in 2024.
Hybrids have also recorded significant growth, increasing from 8.9% to 12.8% of stock and from 8.5% to 12% of sales over the same period.
In contrast, diesel’s long-term decline has continued with sales falling to 23.1% in August 2026 against a backdrop of 26.9% of stock, while petrol accounted for 41.2% of used stock and 43.9% of sales.
In terms of age profiles, stocks of three to four-year-old vehicles fell from 25.5% to 22.6% in the last two years, vehicles aged five years and older make up 48.9% of all used car stock, while the share of two-year-old and younger vehicles increased from 22.7% in August 2024 to 25.7%
Dean Merritt, Indicata national retail strategy manager, said: “We’re still seeing a reduced volume of three to four-year-old cars coming into the market, which has been exacerbated by fleets extending contracts to four and five years. Older vehicles are filling that gap, while the stock of sub-24-month-old cars remains strong.”
