Second-hand electric vehicles are moving through dealerships more quickly than used petrol cars, according to new analysis from cap hpi.
Three-year-old EVs took 42 days to sell in January 2025, while petrol vehicles needed 48 days to find buyers. Hybrid and plug-in hybrid vehicles (PHEVs) required 43 and 47 days respectively.
The Society of Motor Manufacturers and Traders (SMMT) reported substantial growth in used EV sales throughout 2024. Some marketplaces saw up to 300% increases in second-hand electric vehicle transactions.
“The retail market remains stable, and showcases robust consumer demand for EVs — especially for vehicles aged between three-to-five years old as they can offer exceptional value for money,” said Chris Plumb, head of current car valuation at cap hpi.
Plumb noted that mid-January showed improved sales momentum, particularly among franchised dealers, despite little change in early January.
EV values faced some pressure in January as wholesale volumes increased, following several months of stability. However, conversion rates and inventory turnover remained consistent with other fuel types.
The data revealed varying sales speeds across different dealer types:
- Independent dealers: 45 days in January (down from 48 in December, up from 41 in November)
- Car supermarkets: 36 days in January (up from 31 in December and 23 in November)
- Franchised dealers: 43 days in January (up from 40 in December and 35 in November)
The trends suggest growing consumer confidence in second-hand electric vehicles, particularly those in the three-to-five-year age range.
