Categories: Industry

Electric models drive second-hand car sales higher

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Second-hand automobile gross sales have risen this 12 months, boosted by a pointy improve within the variety of used electrical autos in the marketplace.

Gross sales of used vehicles within the UK rose 5.1% between January and March, in comparison with the identical three months final 12 months.

However the marketplace for electrical vehicles, which solely makes up a small proportion of the general second-hand market, greater than doubled in measurement.

Electrical automobile gross sales had been “energising” the market, the SMMT stated.

The preferred fashions total had been the Ford Fiesta, Vauxhall Corsa, and Volkswagen Golf. However customers appeared eager to snap up extra environmentally-friendly vehicles the place potential, the newest figures from the Society of Motor Producers and Merchants (SMMT) confirmed.

“Zero emission autos [are] beginning to filter via in bigger numbers to customers wanting ahead to driving the newest and greenest autos,” Mike Hawes, SMMT chief govt, stated.

“Though there may be some option to go earlier than we see the latest development in new EVs replicated within the used market, a buoyant new automobile market shall be very important to assist drive fleet renewal which is crucial to the supply of carbon financial savings,” he stated.

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Gross sales of used battery electrical autos (BEVs), which run purely on electrical energy, grew from 6,625 to 14,586 within the first three months of the 12 months, an increase of 120.2% from a 12 months earlier.

Plug in hybrids (PHEVs) and hybrids (HEVs) which collectively make up a bigger share of the used automobile market additionally modified fingers in larger numbers, totalling just below 50,000 autos.

Smaller fashions continued to be extra widespread for consumers within the second-hand market. Bigger multi-purpose autos (MPVs) , declined by 7.5%, adopted by luxurious saloons which had been down 3.4%.

Black was the preferred color alternative accounting for one in each 5 vehicles offered.

‘Costs hovering’

A scarcity of semiconductors and different digital elements was holding again provide within the new automobile market, stated David Leggett, editor of specialist information website Simply Auto.

He stated it was due to this fact unsurprising that there had been a growth within the second-hand market. “The costs of used vehicles soared over final 12 months,” he stated.

The ramp up in gross sales of second-hand electrical autos specifically was set to proceed over the subsequent few years as extra new inventory fed via to the used automobile market, Mr Leggett added.

“We’re at a reasonably early stage nonetheless when it comes to the impression of BEVs on the brand new automobile market and seeping via to the inventory of vehicles on the market,” he stated.

As challenges inside the electrical automobile market over charging and client hesitation over adapting to the know-how recede, he predicted a “transformation” of first the brand new after which used automobile markets.

Used automobile costs have risen, typically, by 30-40% within the final two years, in response to KPMG.

Richard Peberdy, UK Head of Automotive, KPMG, stated: “Used automobile costs have been hovering like by no means seen earlier than.”

“The rising value of dwelling is cooling the used automobile market barely, however demand nonetheless stays excessive and is prone to proceed to till the problems impacting new automobile manufacturing are resolved and extra provide enters the used automobile market. That’s unlikely to be this 12 months,” he stated.

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