Used electric vehicles outsell ICE models by a week
Used electric vehicles sold a week quicker than the second hand car market average in November, according to data released by cap hpi.
It found that pure electrics sold in 33 days last month compared to 40 days across all types of vehicles.
Diesels were the slowest sellers, taking an average of 42 days, while plug-in hybrids sold in 41 days on average, petrol vehicles sold in 39 days and hybrids electrics in 37 days on average.
Looking at the data more deeply, EVs aged three to five years old were the most in demand, selling in 25.5 days compared to the 36 days recorded for petrol vehicles in the same age group.
Used electric vehicles
Chris Plumb, head of current car valuation at cap hpi, said: “As the used car market for battery electric vehicles continues to mature, it is encouraging to see that many of the key performance indicators for this fuel type, especially in the important retail age band of three to five years, are positive. As we have highlighted, BEVs within this age band now represent exceptional value for money. When factoring in the total cost of ownership (TCO) savings and the remaining battery warranty, they present a compelling offer to used car buyers.”
Meanwhile, prices held firm through the month, underlining healthy consumer demand.
However, Plumb warned:
“Retailers face rising operating costs in 2025, including increased National Insurance contributions and a higher National Living Wage, prompting businesses to reevaluate their strategies and workforce planning to mitigate potential profit margin pressures.”
