Demand for used EVs is surging in December
The demand for used electric vehicles has increased drastically in December, which is believed to be as a result of the UK announcing a ban on the sale of fossil fuel-powered vehicles from 2030.
Online car marketplace BuyaCar.co.uk says EVs have spent most of the year accounting for about one per cent of sales, but that has now soared to 15 per cent in December.
The site’s analysts believe this is evidence that curiosity about electric vehicles has reached a ‘historic tipping point’ despite the fact there’s a long time until any ban is put in place.
It also noted that although electric vehicles are more expensive than traditionally fuelled vehicles when new, the difference is less pronounced in the used market.
The Nissan Leaf is proving to be one of the most popular models as an entry point to electric vehicles. Early examples are available now for around £5,500 or £150 per month on finance, making them a viable option for those on a budget.
Christofer Lloyd, editor of BuyaCar.co.uk, said: “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 per cent of the market, it is clear that a breakthrough is under way.
“But 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.
“Although the breakthrough for EVs has been forecast many times in recent years we are now seeing hard evidence that it is happening and it will be interesting to see what the EV market share is on BuyaCar.co.uk by the end of 2021.”