Demand for used EVs hits record levels: comment

“It is no coincidence that such strong sales growth comes on the back of EVs largely reaching price parity with petrols on the second-hand market. [2] It demonstrates that once prices come down, the demand for electric driving is very much there. 

“With 80% of car sales taking place on the second hand market, [3] it has a vital role to play if millions of UK households are to access the £1,600 in annual savings that can come from owning an EV. [4]

“But its growth is dependent on supply, which is why the Government’s ZEV mandate has such an important role to play in ensuring that everyone is able to make the move to EVs. The more new EVs that are sold today, the quicker the second-hand market will grow, and the quicker that more people will be able to get their hands on them. Were the Government to weaken the mandate, new EV sales would slow, as would the growth of the second-hand EV market – leaving millions stuck driving dirtier and more expensive petrols and diesels for longer”.