It’s no secret that EV demand has increased significantly over the last year; however, consumers aren’t just trying to get their hands on new vehicles. According to data from the Society of Motor Manufacturers and Traders (SMMT), UK sales of used EVs have more than doubled in the last year.
According to the SMMT, the number of transactions for electric cars increased from 6,600 in the first three months of 2021 to almost 14,600 in the first quarter of this year. This represents an increase of 120 per cent. Overall, sales of second-hand cars rose by 5.1 per cent year on year to 1.7 million. However, this is still 12 per cent below figures from pre-pandemic figures.
Perhaps this demand for used EVs should come as no surprise, as supply chain issues have negatively impacted the ongoing production and delivery of new EVs. In an effort to skip the wait for a new EV, many consumer are opting for used vehicles instead. In fact, many “lightly used” second-hand cars have changed hands for more than their new equivalents.
“Electric car sales are energising the market, with zero-emission vehicles starting to filter through in larger numbers to consumers looking forward to driving the latest and greenest vehicles,” said Mike Hawes, SMMT’s chief executive. “Although there is some way to go before we see the recent growth in new EVs replicated in the used market, a buoyant new car market will be vital to help drive fleet renewal, which is essential to the delivery of carbon savings.”
Many UK consumers are also anticipating encroaching bans on gas-powered cars in the near future. In fact, sales of new fossil-fuel cars will be banned in the UK from 2030, and hybrids from 2035.