Used electric vehicle (EV) sales reached a record share of the UK market in April as higher fuel prices shifted consumer demand, according to Indicata.
EVs accounted for 9.8% of used car sales in April, up from 7.4% in March, while stock levels fell from 10% to 9.1% as buyers moved away from petrol and diesel models.
The change follows rising oil prices linked to conflict in the Middle East, which has increased pump prices and boosted interest in electric alternatives.
As of late April 2026, average UK fuel prices are approximately 157p per litre for unleaded petrol and 189p–191p per litre for diesel.
Market Days’ Supply (MDS) for EVs dropped to a record low of 41 days, making them the second fastest selling powertrain behind petrol at 39 days.
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The figure is the lowest across the 16 European markets tracked by Indicata.
The pace of change has been rapid. EV MDS stood at 85 days in January, indicating a significant shift in demand over a short period.
Used EV market becoming more balanced
Dean Merritt, UK national retail strategy manager at Indicata, said the market is becoming more balanced.
He said: “We are seeing a clear acceleration in used BEV sales, combined with a contraction in stock levels which is improving market fluidity.
“It has helped clear the backlog of used EV stock; however, this adjustment has not yet translated into an increase in prices.”
Indicata data shows used EV prices fell by 0.5% over the past month.
The current supply and demand dynamics could support stabilisation in residual values in the short term, although longer-term trends will depend on energy price movements.
Merritt said increased supply is also supporting the market.
He added: “It puts the used EV market in a good place as consumer and wholesale demand is growing at a time when more EVs are being de-fleeted by leasing and salary sacrifice companies.”