UK’s second hand EV market growing

Demand for used hybrid, plug-in hybrid and pure electric cars continued to grow in the second quarter (Q2) of 2019, up 24.8%, with 33,492 models changing hands.

Of these alternatively fuelled vehicles (AFVs), pure electrics experienced the largest growth, up 32.8%, with hybrids also rising 25%.

Overall, the UK’s used car market declined by -2.8% in Q2.

Demand for petrol and diesel models declined in the second quarter, down by -3.7% and -2.5% respectively.

However, combined sales of the fuel types still made up 98.3% of the market.

Mike Hawes, SMMT Chief Executive, blamed uncertainty around Brexit for the sluggish figures.

‘With the country still gripped by economic and political uncertainty it’s perhaps unsurprising to see the used car market slowing down,’ he said.

‘This means owners are often holding on to their cars for longer, delaying the widespread introduction of the latest, cleanest models which is not good for air quality. We need a boost to consumer confidence, something that a Brexit deal would deliver, to improve the fortunes of the industry and the wider economy.’

Speaking to the London Evening Standard in July, AA president Edmund King said that an emerging second-hand market for electric vehicles gives drivers ‘real incentive to switch to cleaner vehicles.’

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