Buyers switching to used EVs over diesels in June

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USED EV sales are outselling diesels at less than two years old says the latest Market Watch report from INDICATA.

The business intelligence and analytics solutions provider for used car operations says that EVs accounted for 10.6% of used car sales in June compared with 9.2% for diesel for cars under two years of age.

This represented a swift and marked change in the market which has seen electric cars struggle to sell earlier in 2023, according to the company’s group sales director Jon Mitchell (pictured above).

However, things change in the less than four-year old category where used EVs accounted for just 6.2% of sales with petrol leading the way at 53.8% and diesels falling to 18.2%.

Talking to vendors and buyers it seems that there is greater choice of used EV now in the market at less than 24 months old which is opening up zero emission motoring to more drivers. Significantly reduced prices led by Tesla also continue to play a big part as does the massive investment made by car makers in marketing their electric vehicles. It has been a perfect storm in June for EVs, and it will be interesting to see if these demand trends continue for the rest of the year.

Jon Mitchell, group sales director, INDICATA UK Tweet

EV prices fell by another 1.5% from June to early July which has helped bring them more into line with ICE cars, added Jon.

INDICATA said its fastest-selling table also showed how EV demand was growing with the Tesla Model 3 and Mercedes EQA topping the list.

Meanwhile just as production of the Ford Fiesta has stopped after 47 years the used car continues to be one of the UK’s favourites. It topped June’s INDICATA UK’s top-selling table, closely followed by the VW Golf and Vauxhall Corsa. The car has been one of the UK’s top selling used cars for decades and news of its demise may have injected new interest in the Fiesta says Jon. He added:

“For much of the Fiesta’s 47-years it has been of the UK’s best-selling used cars, and the news of Ford seizing production seems to have injected new life into the car with buyers.”