Used EVs selling faster than petrol cars: comment

“It is no surprise to learn that an ever-increasing number of savvy families are turning their backs on paying a ‘petrol premium’ to run their old cars, trading them in for second-hand EVs that can save them hundreds, even thousands, of pounds a year.

“With price parity reached on the second-hand market, buyers of used EVs can start saving the moment they get their hands on the keys. Our own analysis has found that the UK’s most-viewed second-hand EVs on Autotrader can save their owners an average of £1,450 a year. [2] This figure includes the 3p per mile tax on EVs recently announced by the Government, showing that EVs will retain a significant running cost advantage over their petrol counterparts. 

“While the EU risks setting its own EV transition back [3], the UK is well-set to forge ahead as a front-runner in the global transition to EVs. Providing regulatory stability will sustain competition, drive down prices for drivers and maintain the growth in the sale of new EVs [4] that will turn up on the second hand market after three to four years".