Demand For Used Electric Cars Is Rising According to the SMMT

08 November 2024

Why the Demand for Used Electric Cars is Growing

In recent months, the demand for used electric vehicles (EVs) has surged, driven by multiple factors that make EV ownership more appealing and accessible than ever.

A key factor is the increased availability of both new and nearly new EVs, giving car buyers more choices than ever before. As the new EV market expands, owners are parting with their vehicles sooner, increasing the selection in the used car market. The introduction of the Zero Emission Vehicle (ZEV) Mandate has further accelerated this trend.

In addition to this, the cost of used EVs has been falling, making them a more affordable choice for everyday drivers. With EV ownership offering a range of appealing benefits such as:

Fuel and tax savings
Lower running and maintenance costs
Affordable charging options, especially when compared to fuel prices
Exemptions from congestion charges and discounts on parking in many areas

“Growth in the used car sector is good news and driven by an outstanding range of desirable and, increasingly, zero-emission vehicles to suit every budget. Maintaining this depends on a healthy new car market, particularly for EVs. Giving consumers the confidence to switch from their familiar petrol or diesel vehicles requires confidence and incentives otherwise many would-be new car buyers will sit on their hands, leading to a diminishing market that will inevitably limit used car availability and affordability. This will be to the cost of motorists, the economy and the environment – making a review of support for the transition and the regulation intended to deliver it, an urgent priority.”
SMMT’s Chief Executive, Mike Hawes,

For businesses, EVs bring additional financial advantages, including lower Benefit-in-Kind (BIK) rates and government grants that support expanding EV fleets.

With these financial and environmental benefits, the popularity of used electric cars is only expected to rise, and at Startin Group, we’re ready to support customers on their journey to sustainable driving. Whether you're considering a used EV for the first time or expanding your electric fleet, we offer a wide selection and the expertise to help you make the best choice.

We also offer an exceptional valuation and Cash for your car, we on average offer rates of 10% higher than our competitors as we car for fair pricing. We can even sit down and provide consultation to find the perfect trade in vehicle for you!