Nearly 50,000 electric cars were sold between April and June as more drivers consider switching away from petrol and diesel vehicles. New data found that during the period 1.93 million used cars were sold as more drivers turned to the secondhand market.
The increasing numbers of buyers who are switching to used electric cars was up 52.6 per cent with stats recording 46,773 new sales. Sales of plug-in hybrids and hybrids were also up, moving 25.2 per cent to 21,580 units and 43.6 per cent to 78,782 units respectively.
Despite the rise in electric cars, petrol and diesel-powered cars still dominated the used car market but dropped slightly by 1.2 per cent.
Mike Hawes, chief executive of The Society of Motor Manufacturers and Traders said: “It’s encouraging to see the used car market continue its recovery, with choice and affordability rejuvenated by the new car sector’s sustained run of growth.
“The increased supply of electric vehicles to second and third owners is helping more motorists make the switch – underlining the importance of energising the new EV market to support a fair transition for all.” He stated that maintaining momentum requires “reliable, affordable and green EVs” charging up and down the country.
James Wilson, chief operating officer of used car marketplace Motorway.co.uk, explained that there is a consumer desire to switch to used electric vehicles.
However, he warned that if the new Government wants to encourage even greater EV adoption, they need to remove barriers and provide financial incentives for private car buyers and introduce new legislation on a single charging app.
Philip Nothard, insight director at Cox Automotive added: “The Q2 results for the UK used car market are encouraging and played out as we had forecasted.
Nearly 50,000 electric cars were sold between April and June as more drivers consider switching away from petrol and diesel vehicles.
New data found that during the period 1.93 million used cars were sold as more drivers turned to the secondhand market.
The increasing numbers of buyers who are switching to used electric cars was up 52.6 per cent with stats recording 46,773 new sales.
Sales of plug-in hybrids and hybrids were also up, moving 25.2 per cent to 21,580 units and 43.6 per cent to 78,782 units respectively.
Despite the rise in electric cars, petrol and diesel-powered cars still dominated the used car market but dropped slightly by 1.2 per cent.
Mike Hawes, chief executive of The Society of Motor Manufacturers and Traders said: “It’s encouraging to see the used car market continue its recovery, with choice and affordability rejuvenated by the new car sector’s sustained run of growth.
“The increased supply of electric vehicles to second and third owners is helping more motorists make the switch – underlining the importance of energising the new EV market to support a fair transition for all.”
He stated that maintaining momentum requires “reliable, affordable and green EVs” charging up and down the country.
James Wilson, chief operating officer of used car marketplace Motorway.co.uk, explained that there is a consumer desire to switch to used electric vehicles.
However, he warned that if the new Government wants to encourage even greater EV adoption, they need to remove barriers and provide financial incentives for private car buyers and introduce new legislation on a single charging app.
Philip Nothard, insight director at Cox Automotive added: “The Q2 results for the UK used car market are encouraging and played out as we had forecasted.
“Despite subdued retail demand, margin pressures, and ongoing constraints in prime three-year-old retail stock, the market has shown remarkable resilience, marking its sixth consecutive quarter of growth.” He detailed how the surge in BEV sales is “particularly promising”, reflecting a significant shift in buyer preferences.
But while used values may have settled compared to Q4 in 2023, this year’s final few months will likely see “renewed turbulence as the rush to meet ZEV mandate targets intensifies in the new car market,” Northard warned.
Ben Nelmes, CEO of New AutoMotive, commented that people making the switch to electric cars can benefit from savings in running costs, better driving experience, and contributing to the nation’s energy security. He detailed: “The UK is starting to see a return to growing EV sales after a lost year, as car companies move closer to meeting their EV sales targets.
“While some parts of the automotive industry may struggle to adjust to the UK’s stretching ZEV mandate targets, those same targets are supporting investment and growth in new electric vehicle production and battery manufacturing. Ministers should therefore resist calls to change or dilute the ZEV mandate.”
