The strongest opportunities in the used car market are presented by 3-5-year-old electric vehicles (EV), according to Autotrader data which shows they remain among the fastest-selling cars in the UK.
Strong consumer demand for EVs is apparent when the price is right, while also helping used EV prices stabilise year-on-year for the first time since December 2022. Nine of the top 10 fastest-selling used cars in June are aged between 3 and 5, while six of the top 10 are electric.
Marc Palmer, head of strategy and insights at Autotrader, said: “What we’re seeing in the data is encouraging: used EVs, particularly those in the 3-5-year sweet spot, are selling quickly because they’re hitting the right balance of choice, value and affordability. We’re moving in the right direction and for the first time we’re seeing many of the key used EV market metrics all in the positive.
“With fuel prices rising in response to geopolitical disruption, that value equation is likely to become even more important for cost-conscious buyers. That doesn’t mean the transition is without its challenges, and some flexibility may be needed, but the direction of travel must remain clear, and we would strongly urge against significantly diluting the 2030 target.
“Long-term certainty is vital for consumers and retailers, as well as manufacturers and investors, and consistent policy has been instrumental in driving vehicle choice, improving affordability and supporting investment in charging infrastructure.”
Of the vehicles listed in the top ten hottest selling used cars, 90% are low emission.
The petrol hybrid MG ZS aged 1-3 years, ranks first overall, selling in a rapid 10 days, while the electric Kia Niro, aged 3-5 years, is second (12 days).
In third place at 13 days is the electric MG4, aged 3-5 years. Other electric models in the top 10 include the Polestar 2, Volkswagen ID.4, Hyundai KONA and Volkswagen ID.3.
Autotrader’s Retail Price Index shows used EV prices were flat year-on-year in May, at 0.0%, marking the first time annual EV pricing has been non-negative since December 2022 and ending 40 consecutive months of decline.
Used EVs are taking an average of 25 days to sell in June, ahead of petrol (29) and diesel (33), and outperforming the wider used car market average (30).
