Used EV sales are outselling used diesels at less than two years old according to the latest INDICATA Market Watch report.
EVs accounted for 10.6% of used car sales in June compared with 9.2% for diesel for cars under two years of age which marks a swift and marked change in the market which has seen electric cars struggle to sell earlier in 2023.
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However, things change in the less than four-year-old category where used BEVs accounted for just 6.2% of sales with petrol leading the way at 53.8% and diesels falling to 18.2%.
“Talking to vendors and buyers it seems that there is a greater choice of used EV now in the market at less than 24 months old which is opening up zero-emission motoring to more drivers,” explained Jon Mitchell, INDICATA UK’s group sales director.
“Significantly reduced prices led by Tesla also continue to play a big part as does the massive investment made by car makers in marketing their electric vehicles. It has been a perfect storm in June for EVs, and it will be interesting to see if these demand trends continue for the rest of the year,” he added.
EV prices fell by another 1.5% from June to early July which has helped bring them more into line with ICE cars.
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By GlobalDataINDICATA’s fastest-selling table also shows how EV demand is growing with the Tesla Model 3 and Mercedes EQA topping the list.
Meanwhile just as production of the Ford Fiesta has stopped after 47 years the used car continues to be one of the UK’s favourites. It topped June’s INDICATA UK’s top-selling table, closely followed by the VW Golf and Vauxhall Corsa.
The car has been one of the UK’s top-selling used cars for decades and news of its demise may have injected new interest in the Fiesta says Mitchell.
“For much of the Fiesta’s 47 years it has been of the UK’s best-selling used cars, and the news of Ford seizing production seems to have injected new life into the car with buyers,” said Mitchell.
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