Used vehicle market ‘could be the key to mass adoption of EVs’

Electric car sales have reached their highest ever level in the used market, according to the online car supermarket BuyaCar.co.uk. After languishing for most of the year at around one in every hundred sales, December has seen them taking a 15 per cent share of the used market.

The surge in demand for EVs is believed to have been largely inspired by the recent announcement of a ban on the sale of new petrol and diesel models from 2030.

BuyaCar analysts believe that although motorists still have plenty of time to stick with their familiar existing petrol, diesel and hybrid models, consumer curiosity about all-electric cars has reached a historic tipping point. And while EVs still tend to be significantly more expensive than ICE (internal combustion engine) cars in the new market, those price premiums are less pronounced among second hand cars.

This means that the used market may be key to the future mass adoption of EVs by enabling more cost-conscious car buyers to take a tentative first step into zero tailpipe emission motoring.

News that December has seen a breakthrough in used EV sales came as the Nissan Leaf was crowned as Britain’s best used electric car by BuyaCar’s sister site DrivingElectric.co.uk, which focuses on plug-in cars.

Christofer Lloyd, editor of BuyaCar.co.uk, believes that early examples of the Nissan Leaf are increasingly being sought as an entry-level EV model of choice for families who want an inexpensive practical second car for local trips. With the Leaf now available for headline prices as low as £5,500 – or £150 per month on BuyaCar’s finance terms – he suggests that many customers now see such examples as the perfect way to become accustomed to all-electric motoring without the outlay or risk they might feel going straight for electric as the main household vehicle.

He said: “On every measure of activity on BuyaCar.co.uk, EVs are really gathering pace in the used market.

“Searches have steadily increased over the past few weeks, to the point where more than one in 10 customers are arriving on our site with an EV in mind as their initial choice. And now we are seeing EVs taking 15 per cent of the used market, it is clear that a breakthrough is under way.

“But while there is definitely an appetite for entry-level EV motoring as a cheap second car, significantly more money is being invested by many buyers on our site. For example, December has already seen a Tesla Model S snapped up for more than £36,000 by someone who was confident to buy the car without getting behind the wheel first.

“Although the breakthrough for EVs has been forecast many times in recent years we are now seeing hard evidence that it is happening and it will be interesting to see what the EV market share is on BuyaCar.co.uk by the end of 2021.