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Surge in second-hand electric vehicle market

20 July, 2016

The growing popularity of electric vehicles has seen a massive rise in the availability of affordable, second-hand electric vehicles (EV) in the UK over the past two years, according to the AA’s used car portal AA Cars.

AA Cars has reported the number of EVs advertised on its portal in the second quarter of 2016 and found stock levels were 652% higher than the same period of 2014 and up two thirds on 2015.

Second-hand EV stock in June was also at its highest ever level on the AA Cars website. At the same time, stock turnover is 16% higher than June 2014.

However, the rise in numbers of EVs being sold by dealers through AA Cars has caused average prices to fall over the past two years. Since 2014, average listing prices for electric vehicles, across all brands, have fallen by 17% from £16,603 in September two years ago to £13,751 in June 2016. The price of electric vehicles on AA Cars now ranges from £3,299 for early models to £31,495.

Paul Yates, managing director of AA Cars, commented: “The EV revolution is gripping the country – a fact which is borne out by a surge of new and used electric cars and vans onto the market.

“The most common misconceptions about EVs are based around high purchase price and the availability of public charging points. Our data indicates used EVs are becoming far more affordable, and Chargemaster is aiming to add a further 500 charge points to its 4,000-strong network in 2016 – thereby improving the practicality of electric vehicles for would-be EV drivers.

“National statistics suggest that 95% of car journeys in Britain are less than 25 miles while a third of families have two or more cars, making electric vehicles an ideal option as a second car. And as old perceptions about the barriers to EV ownership start to dissipate, we expect this upward trend in used electric vehicle stock to continue.

“With a broadly priced range of models now available, there’s never been a better time to buy electric if you’ve ever considered a used EV.”

Keywords: AA, electric vehicles