Insights into the Used EV Market: Volatility, Growth, and Desirability

The used electric vehicle (EV) market is experiencing some interesting trends, with a big slump in average values overall but growth for younger models. This volatility in the market is highlighted by data from Auto Trader, which shows that while the average prices of used EVs have dipped, there is still strong consumer demand for these vehicles.

In contrast to the overall trend, younger EVs are actually outperforming the market. The average price of 1–3-year-old EVs has seen an increase, marking the first monthly growth since October. This shows that there is still a lot of potential in the market for newer EV models.

MotoNovo Finance also sheds light on the quick turnaround for used EVs, with electric vehicles staying in stock for almost half the time as internal combustion engine (ICE) models. This rapid stock turnover indicates that there is a high demand for used EVs, making them a lucrative option for dealers.

Aston Barclay’s list of the most desirable used EVs for April further reinforces the growing popularity of these vehicles. The top 10 list includes a mix of new and older models, with the Mercedes-Benz EQC taking the top spot. This shows that car buyers are embracing the latest EV models when they become available in the used car market.

Overall, the data from Auto Trader, MotoNovo Finance, and Aston Barclay paints a picture of a dynamic and evolving used EV market. While there may be some volatility in average values, the demand for younger models and the quick turnover of used EVs indicate a promising future for this segment of the automotive industry. As more consumers embrace electric vehicles, we can expect to see continued growth and innovation in the used EV market.