Demand for EVs from used car buyers is rising, data from analysis company Indicata suggests.
It said EVs fell to a record low 44 days in early September under its Market Days’ Supply metric, which is derived from dividing the current supply of inventory by the average daily retail sales rate over the past 45 days.
Indicata said its September sales data also supported this finding, with EVs gaining a UK used car market share of 8.2% – a rise from 7.6% in July. Other powertrains fell or remained static except for petrol, up by 0.4% to 46.3%.
Indicata said the UK remained generally short of used cars due to restricted new car sales in 2021 and 2022.
Head of sales Dean Merritt said: “Our wholesale MarketPlace used car platform has seen dealer used EV demand rise throughout the summer to cater for a growing consumer demand. It is another positive step forward for the used EV sector.
“The industry has been looking to a strong September new car market to help kick start a growth in used car volumes. However, it looks as though it will be some time before supply fully meets demand. In the meantime, prices are likely to continue to rise.”
