SMMT's used EV car sales figure for Q1 2024: comment
Zero emission car sales up 71.0%
By George Smeeton
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Responding to data from the SMMT showing that sales of secondhand EVs have increased by 71% [1] Colin Walker, Head of Transport at the Energy and Climate Intelligence Unit (ECIU), said:
“As prices of new electric cars continue to fall, many EVs are already available on the used market at the same price as their petrol equivalents. Most households rely on the secondhand market to buy their car, so with the ‘petrol premium’ of more expensive fuelling for petrol cars factored in, EVs are already providing more affordable driving than their internal combustion cousins to those who can’t afford a new car.
"The good news is the pool of secondhand EVs is only set to grow. [2] By setting targets for new EV sales, the Government’s ‘ZEV mandate’ policy will drive up sales of new EVs. And the more new EVs that are sold, the more EVs that will make their way on to the secondhand market. Fundamentally the ZEV Mandate will put cheaper driving in the hands of all of the UK’s drivers”.
Notes to editors:
1. SMMT used car figures for Q1: https://www.smmt.co.uk/2024/05/used-car-market-hits-five-year-high-as-evs-reach-record-share/
2. The UK's second hand car market, ECIU: https://eciu.net/analysis/reports/2023/embargoed-27-feb-the-uks-second-hand-car-market
For more information or for interview requests:
George Smeeton, Head of Communications, ECIU, Tel: 07894 571 153, email: george.smeeton@eciu.net