Used EVs are selling in record time in October, according to Autotrader. As well as selling at a faster pace than any other fuel type, EVs dominate the list of fastest selling models, led by the Tesla Model Y (electric, 3-5 years), averaging a rapid 11 days to sell.
The used car market as a whole is showing steady momentum, with cars selling on average in just 27 days so far this October – two days quicker than the same month in 2024 and five days faster compared to October 2023.
Marc Palmer, Autotrader’s Head of Strategy & Insights, said: “The data tells us one thing loud and clear: consumer confidence in used EVs is growing fast, with electric models consistently selling faster than any other fuel type. Buyers have clearly found their sweet spot in the three- to five-year-old segment where pricing and value make them a hugely compelling option.
“Given it’s still a new frontier for many retailers, some trepidation in selling EVs is understandable, but the rapidly expanding size of the market and the indisputable levels of consumer demand make them a very strong opportunity – especially within middle-aged cohorts, where given the choice, consumers are choosing electric.
“However, success depends on staying close to the data and leveraging the latest market intelligence to ensure you’re sourcing and pricing the right stock for your forecourt.”
Autotrader’s data shows that 3-5-year-old cars are selling even quicker, taking an average of just 24 days.
This surge in pace reflects robust buyer activity and the rising popularity of EVs in the used car market because of increasing affordability and choice.
Middle-aged (3-5 years old) EVs are leaving forecourts in just 19 days on average, six days faster than their petrol rivals.
The top four of the hottest used cars are 3-5 year old EVs and across all fuel types 3-5-year-old cars represent six of the top ten.
The average price of a used petrol car is around £15,000, and used EVs are typically £27,000. However, 1–5-year-old petrol models average £20,000 and the equivalent used EVs are just ahead at £21,000.
Used Full/Mild Hybrid cars are selling in 25 days on average and have outpaced petrol.
