Used EVs taking ‘longer to sell’ than their ICE equivalents

The time to sell a used battery electric vehicle (BEV) was 12.5 days, on average, compared to around 7-8 days for a petrol and diesel car, new research suggests.

The analysis, from Epyx, also shows that, on average, it took more than 11 days for a used plug-in hybrid (PHEV) to be sold, last year.

However, the data reveals that disposal conversion rates for used electric vehicles (EVs) were very close to their petrol and diesel equivalents, and were better than plug-in hybrids (PHEVs).

In total, 91% of EVs found buyers when made available through trade sales to dealers, compared to 94% for petrol and diesel, and 87% for PHEVs.

The figures are taken from the company’s 1link Disposal Network platform, used by major fleets to sell vehicles to dealers and other retailers.

Tim Meadows, chief commercial officer at Epyx, said: “Given all the negative publicity around the sales of electric vehicles in the last 12 months, these percentages will perhaps be something of a pleasant surprise for anyone involved in remarketing them in 2024.

“While there is no doubt that values of EVs have been falling over the last year or more, sometimes quite dramatically, it is also true to say that – at least through our platform – they have been finding a ready market.

“It’ll be interesting to see what happens in 2024 as the market for EVs continues to mature.”

He added: “Early this year, the milestone of one million electric cars on UK roads was passed and while this is still a small element of the overall car parc, it also shows the extent to which they are starting to become just a normal part of the remarketing sector.”

Established in 2005, the 1link Disposal Network has been the channel for more than 500,000 vehicle sales.