Expensive second-hand market slowing down consumers’ switch to electric cars
June 7th, 2024
Autotrader has released research this week showing that there are just 10,000 used electric vehicles on the market advertised below £15,000, compared to 350,000 used petrol and diesel cars.
This lack of affordable electric cars is one of the key factors stalling the switch to electric vehicles for consumers. However, with over 1 million EVs now registered in the UK, it is hoped that as this market continues to grow, second-hand market prices will drop.
Auto Trader Commercial Director Ian Plummer stated that a ‘fair and equitable’ transition to electric motoring will require EVs to be available ‘in a variety of budgets.’
In conclusion, while the high prices in the second-hand market are currently a barrier to the widespread adoption of electric vehicles, the growing number of EVs on the road suggests that more affordable options will become available in the future. This shift is essential for a sustainable and inclusive transition to electric motoring.