Used EV market nears "tipping point," say 93% of dealers

The used electric car market is on the verge of a breakthrough, according to the latest Startline Used Car Tracker, with 93% of dealers saying demand is now approaching a “tipping point” as motorists show growing confidence in going electric.

More than half of dealers surveyed (53%) believe buyers are becoming more comfortable with electric vehicles (EVs), while 51% say EVs are increasingly viewed as “just another car in stock.” A further 41% report that interest from motorists has become significantly more serious compared to previous years.

The findings align closely with research from the University of Exeter, which recently suggested the electric car market is nearing a decisive moment of mass adoption.

Paul Burgess, CEO at Startline Motor Finance, said the results mark a pivotal shift in sentiment:

“We asked this question following the publication of a paper from the University of Exeter showing the electric car market was near to a tipping point. We wanted to see whether dealers agreed with the academics – and the response was overwhelmingly positive.

“It perhaps isn’t a surprise to see a majority of dealers believe a pivotal moment for electric cars is approaching but the very high degree of backing for this idea is something of a shock. Essentially, our data shows electrification is very close to being an accepted fact of the used car market.”

While confidence in EVs is rising, the survey also reveals lingering challenges. Dealers note that issues such as charging infrastructure – particularly for motorists living in terraced housing and apartments – still need urgent attention.

“One thing we have noticed in the last year is that most of the dealers we work with now have at least some electric cars in stock,” Burgess added. “To some extent, this is a necessity because of current shortages for some age profiles of vehicle, but it also means these models are becoming just a normal, everyday fact of the motor industry. There is now a sense of genuine momentum.”

Interestingly, only 3% of dealers said that a significant proportion of buyers are still resisting EV adoption – a clear sign that attitudes are shifting rapidly.

The Startline Used Car Tracker, compiled monthly by APD Global Research, questioned 300 consumers and 60 dealers for its August edition.