More than eight in 10 used car dealers believe Tesla Model 3 prices falling below £10,000 for the first time represents a significant milestone for the used electric vehicle market.
Research from June’s Startline Used Car Tracker, which is based on the views from 70 dealers, found that 83% view the development as a key moment for EV adoption, with many believing it could encourage more consumers to consider making the switch from petrol and diesel vehicles.
More than a third (38%) said the £10,000 threshold represents an important psychological barrier for buyers considering their first electric vehicle.
Dealers also highlighted the Model 3’s appeal beyond its electric powertrain, which shows that Tesla’s brand reputation issues from last year have clearly not impacted demand or consumer opinion for the long-term in the UK.
Almost a third (31%) said consumers see the car as a practical, well-equipped family vehicle that happens to be electric, while 17% cited Tesla’s reputation for battery durability and limited range degradation.
Only a small minority expressed reservations. Just 10% said buyers in this price bracket tend to be risk averse and more likely to choose petrol or hybrid alternatives.
A further 7% said Model 3 supply remains relatively limited compared with the wider used market, while 5% pointed to ongoing concerns such as charging access.
Used EV price and choice driving consumer demand
Paul Burgess, chief executive of Startline Motor Finance, said: “The volumes of electric cars entering the used market are increasing ever more rapidly and, as a result, prices are falling while choice is increasing.
“There are now a number of options available under £10,000 but the Model 3 is probably the most suitable for everyday family needs, has a good reputation for battery reliability, offers useable range and is well-equipped.
“It is, as many dealers in our research have said, a strong used buy that just happens to be electric and at under £10,000, may convince many more people to go electric.”
The research also asked dealers which other electric vehicles priced below £10,000 are likely to attract buyers entering the EV market.
The BMW i3 was the most frequently mentioned model, cited by 59% of dealers, followed by the Peugeot e-208 (37%), Hyundai Ioniq (36%), Nissan Leaf (34%), Renault Zoe (17%) and MG4 (14%).
Burgess said the growing number of affordable used EVs was helping broaden the appeal of electric motoring.
“There are many good cars here now reaching price levels that make them much more accessible to a wider range of buyers,” he said.
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