Dealers say the fuel price shock caused by the Iran War is the number one reason for the current surge in used electric car sales, new research shows. August’s Startline Used Car Tracker asked motor retailers to rank eight causes potentially driving the trend following reports from AutoTrader and other sources which show rising demand, higher prices and … [Read more...]
Tradelines 22 July
AA Cars data shows the average price of the UK’s 20 most searched-for used electric cars has fallen by 10% in the past year, bringing more models within reach of buyers. The latest Used Car Index found the Nissan Leaf remains the most popular used EV, despite its average price dropping 17.3% to £8,146. Prices also fell sharply for the Jaguar I-Pace, Tesla … [Read more...]
Value retention improving for some EVs
Chinese EVs are holding their value well against comparable mainstream models, suggesting consumer trust and confidence in newer brands is continuing to grow. New research by car leasing and contract hire specialist, LeaseCar, analysed a selection of popular Chinese EVs alongside similar mainstream models and found that across the vehicles analysed, Chinese … [Read more...]
Welsh drivers speeding down the EV route
Blaenau Gwent is leading Britain's electric car boom, recording the fastest growth in private EV ownership, with battery electric vehicle (BEV) numbers rising by almost 90% year on year, according to new analysis of Government data by AA Cars. The latest vehicle licensing data from the Department for Transport and Driver and Vehicle Licensing Agency shows … [Read more...]
Electric used-cars values still falling
Petrol prices are rising, but not quickly enough to encourage a big swing to electric cars, even used models. More than half of used dealers (52%) believe electric car prices and values could further worsen this year, according to the latest research. March’s Startline Used Car Tracker shows 49% say consumer demand isn’t high enough to support values, 42% … [Read more...]
Free chargers would boost used ev sales – dealers
Six out of 10 dealers (60%) say funding for free or low-cost home chargers would be the most effective government boost to used electric car sales. February’s Startline Used Car Tracker also shows 52% back low or zero interest loans, 52% schemes to make charging available for those without space for a home charger and 50% grants that reduce the purchase … [Read more...]
How to avoid nasty shocks with used evs – Dick Lovett
Interest in used EV vehicles is surging across the UK, with searches for ‘second-hand EV’ up 49% in the UK over the last year and 44% within the last quarter, whilst queries for ‘used EV’ have risen from 17,000 to 27,000 monthly searches - a 59% increase in that timeframe, according to Google trend data. As more drivers consider switching to electric … [Read more...]
EV incentive will hurt used car buyers & sellers
Government support for the used electric car sector is now “essential” following the introduction of new car grants, says the Vehicle Remarketing Association. Bringing down the price of electric cars in the new market only underlined the need for corresponding action in the used sector, said chair Philip Nothard. “The key point here is to recognise that … [Read more...]
Used EV demand is slowly rising
Almost two thirds of dealers (64%) say consumer demand for used electric vehicles (EVs) is improving, new research shows. This is the highest result since the question was first included in the monthly Startline Used Car Tracker in May 2024. Paul Burgess, CEO at Startline Motor Finance, said, “This figure was just 50% last month and as low as 45% in our … [Read more...]
Government ZEV targets to be missed in two years
Analysts say carmakers will miss UK Government ZEV mandate targets by 346,000 units in three years unless ‘major consumer concerns’ are addressed. That is according to Cox Automotive in its latest Insight Quarterly report which backs up studies by Regit that found that several key blockers remain in place stunting mainstream EV adoption among UK car … [Read more...]
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