UK Used Electric Vehicle Sales Surge

The UK used car market has seen a significant rise in electric vehicle (EV) sales, with a record 53,423 used EVs sold between July and September 2023, reflecting a 57% increase year-on-year. This surge has raised the used EV market share from 1.8% to 2.7%. The growth is attributed to increased 'de-fleeted' EVs from companies and leasing organizations, with the current Labour Government maintaining incentives for company EVs while not providing subsidies for private buyers. Despite overall declines in petrol and diesel car sales, EVs made up 20.8% of the market in October 2023, thanks to a robust lineup of new electric models. Analysts warn that without further incentives and infrastructure improvements, the transition to EVs could stall, negatively impacting the economy and environment. Used values for battery electric vehicles have also risen, outperforming the overall used car market, highlighting their growing desirability.