THE demand for used EVs is improving, according to a recent survey of dealers.
The research found that almost two thirds of dealers (64%) said that used EVs were increasingly sought after.
The research, carried out by the monthly Startline Used Car Tracker, said it was the highest result since the question was first included in May 2024.
Paul Burgess, CEO at Startline Motor Finance, said: “This figure was just 50% last month and as low as 45% in our research as recently as November, suggesting that there has been quite a marked and rapid change in the views of dealers.
“Certainly, there are reports from a variety of sources that buyer demand for used EVs is now bordering on buoyant, with fast stock turnaround times and a general sense of maturity appearing in the market.”
That was certainly the experience of Indicata, the business intelligence provider for used car operations in its February report, where it noted that EVs sold through dealers reached record levels.
But the picture remains mixed
The used EV picture remains more complex, however. The Startline Used Car Tracker said only 38% of dealers were more enthusiastic about EVs, a fall from 43% last month.
One reason offered for this was concerns over EV price and value volatility, with just 28% in the new research saying the situation is getting better, compared to 45% in March.
Additionally, 57% reported the move to EVs as the single biggest challenge to the future of their business, ahead of finance availability at 52% and stock supply at 50%.
Burgess added: “Taken together, all these statistics paint quite a complex picture when it comes to the used EV sector. While consumer demand is probably improving, there is clearly some concern among dealers that the journey to electrification is going to remain a bumpy one.”
Pre-registering of EVs starting to affect used says VRA
Adding to the complexity, the Vehicle Remarketing Association (VRA) said that growth in EV pre-registration activity was creating new challenges for the used car sector. Data provided to the VRA by AutoTrader showed that because OEMs are heavily incentivising new EVs, equivalent nearly new stock is becoming more difficult to sell quickly.
VRA board member Louis Maxwell explained: “The figures show that general pre-registration activity is now up by 23% year-on-year for 2025, based on stock with less than 100 miles. It’s quite a rise but still some way behind pre-pandemic levels.
“EVs account for around 23% of these, which is in line with their share of the new car market but they’re taking much longer to sell second-hand because manufacturers are heavily incentivising the purchase of brand new EVs to stimulate demand.
“While three to five year old EVs are selling fastest in the market at 26 days, having reached a general point of price parity with petrol, pre-registered EVs are turning every 37 days, which is three days slower than petrol. It’s a big difference.”
He added that it was important for retailers to monitor supply, demand and pricing dynamics when taking on more pre-registered EV stock.
Automotive and fleet writer for Broker News
