Autotrader reports used EVs selling faster than other cars

Used EVs have sold more quickly on average then petrol or diesel alternatives so far in June, according to Autotrader.

The car-selling platform has published data showing used EVs have on average taken 25 days to sell so far this month, compared with 29 days for petrol cars and 33 days for diesels.

Autotrader said the most popular EVs of all were those in the three-to-five-year-old age bracket, which were selling in just 21 days on average and attracting nearly half of all used EV enquiries.

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Autotrader added that increased EV demand – attributed to factors such as rising fuel prices and geopolitical uncertainty – had seen prices for the vehicles remaining flat in May, ending 40 consecutive months of decline.

Six of the fastest-selling models on Autotrader so far in June are EVs, and a further three are hybrids, including the fastest seller, the MG ZS, at just ten days on average.

Aside from the MG, all of the top ten are three-to-five years old, reinforcing Autotrader’s view that this represents a ‘sweet spot’ for the market, particularly with supply issues affecting the five-to-seven-year-old car market.

Used EV market data ‘encouraging’

Marc Palmer, head of strategy and insights at Autotrader, said: “There’s understandably a lot of focus on new EVs and the ZEV mandate, but the used market has a critical role to play in making the electric transition work for more drivers and in keeping new EVs affordable through robust residual values.

“What we’re seeing in the data is encouraging: used EVs, particularly those in the three-to-five-year sweet spot, are selling quickly because they’re hitting the right balance of choice, value and affordability.

“We’re moving in the right direction and for the first time we’re seeing many of the key used EV market metrics all in the positive. With fuel prices rising in response to geopolitical disruption, that value equation is likely to become even more important for cost-conscious buyers.”

Palmer added that Autotrader would “strongly urge against” dilution of the UK’s planned 2030 ban on new pure petrol and diesel car sales.

Fastest-selling used cars in June (Source: Autotrader)