Electric cars are making huge waves in the UK’s second-hand market, with EVs taking 15% of the segment so far in December. This trend appears to be true for both entry-level electric cars like the Nissan Leaf and premium vehicles like the Tesla Model S.
According to BuyaCar.co.uk, the surge in demand for second-hand electric cars comes amidst initiatives aimed at banning sales of new petrol and diesel cars around 2030. The online car sales platform noted that for most of the year, EVs have accounted for only about 1% of second-hand car sales. But recently, there has been a sudden rise in demand.
Analysts from BuyaCar.co.uk remarked that these recent trends reveal that curiosity about EVs has reached a “historic tipping point.” This is despite the fact that there are still almost ten years to go before the UK bans diesel and petrol-powered cars.
While electric cars are generally more expensive than their internal combustion engine-powered counterparts brand new, this price difference becomes notably less pronounced in the used EV market. According to the online car sales platform, one of the most popular second-hand models this year so far is the Nissan Leaf, which could be bought for as low as around £5,500 or £150 per month if financed.
Premium electric cars are seeing a spike in demand as well. Christofer Lloyd, editor at BuyaCar.co.uk, noted that this month, a second-hand Tesla Model S was bought for over £36,000. What was quite impressive was that the buyer was willing to purchase the Model S without test-driving the vehicle first.
“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% of the market, it is clear that a breakthrough is underway.
“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,” Lloyd said, as noted in a Car Dealer Magazine report.
With the continued popularity of vehicles like Tesla’s lineup, as well as the momentum of the electric car movement, it would appear that the automotive segment is now at a point where concrete signs of an EV breakthrough is becoming extremely evident.