Used EV ‘sweet spot’ drives fastest-selling car rankings

Used electric vehicles aged between three and five years are emerging as one of the strongest-performing segments of the UK car market, with new data from Autotrader showing they are among the fastest-selling vehicles in the country and helping to stabilise used EV prices for the first time in more than three years.

According to Autotrader’s latest market analysis, used EVs are currently the fastest-selling fuel type, taking an average of 25 days to sell in June, compared with 29 days for petrol vehicles and 33 days for diesel models.

The findings highlight growing consumer confidence in used electric vehicles, particularly within the 3-5-year-old age bracket, where affordability, choice and availability appear to have aligned to create what Autotrader describes as a market “sweet spot”.

Nine of the ten fastest-selling used vehicles in June are aged between three and five years old, while six of the top ten are electric models. The data suggests retailers with access to quality used EV stock in this age range are well-positioned to benefit from strong consumer demand.

The petrol hybrid MG ZS, aged one to three years, topped June’s fastest-selling rankings, taking just 10 days to sell. It was followed by the electric Kia Niro, aged three to five years, at 12 days, while the electric MG4, also aged three to five years, ranked third, selling in 13 days.

Other EVs featured in the top ten include the Polestar 2, Volkswagen ID.4, Hyundai Kona Electric and Volkswagen ID.3, reflecting broad-based demand across multiple manufacturers and vehicle segments.

The importance of the 3-5-year-old market is becoming increasingly evident as supply constraints continue to impact the traditional 5-7-year-old used car segment. While used vehicles aged between three and five years sell in an average of 28 days overall, EVs within this category are moving significantly faster, taking just 21 days to sell – almost ten days quicker than the wider used car market average of 30 days.

Consumer interest is also heavily concentrated in this segment. Autotrader revealed that 48% of all used EV enquiries generated on its platform in May related to vehicles aged between three and five years.

The positive demand trends are also beginning to influence pricing.

Autotrader’s Retail Price Index showed used EV prices were flat year-on-year in May, recording growth of 0.0%. While seemingly modest, the result marks a significant milestone for the market, ending 40 consecutive months of annual price declines and representing the first non-negative year-on-year performance since December 2022.

The development comes at a time when rising fuel prices, driven in part by geopolitical tensions affecting global energy markets, are increasing the attractiveness of lower-cost electric motoring for consumers.

Marc Palmer, Head of Strategy and Insights at Autotrader, said the used market would play a crucial role in supporting the UK’s wider transition to electric vehicles.

“There’s understandably a lot of focus on new EVs and the ZEV mandate, but the used market has a critical role to play in making the electric transition work for more drivers and in keeping new EVs affordable through robust residual values,” he said.

“What we’re seeing in the data is encouraging: used EVs, particularly those in the 3-5-year sweet spot, are selling quickly because they’re hitting the right balance of choice, value and affordability. We’re moving in the right direction and for the first time we’re seeing many of the key used EV market metrics all in the positive. With fuel prices rising in response to geopolitical disruption, that value equation is likely to become even more important for cost-conscious buyers.”

Palmer added that while challenges remain, policymakers should maintain a clear direction of travel for vehicle electrification.

“That doesn’t mean the transition is without its challenges, and some flexibility may be needed, but the direction of travel must remain clear, and we would strongly urge against significantly diluting the 2030 target,” he said.

“Long-term certainty is vital for consumers and retailers, as well as manufacturers and investors, and consistent policy has been instrumental in driving vehicle choice, improving affordability and supporting investment in charging infrastructure.”