According to the latest data from the Association of Automobile Manufacturers and Traders (SMMT), sales of used electric vehicles in the UK are rising.
Although the sales of second-hand cars in the last quarter dropped slightly year-on-year (mainly as a result of the boom when dealers opened their doors at this time last year), the popularity of second-hand electric and hybrid cars continued to grow.
A total of 14,182 plug-in hybrids changed hands in the last quarter, an increase of 43.3% year-on-year, while sales of second-hand pure electric vehicles soared by 56.4% to 14,990 units, setting a quarterly record.
SMMT attributed the price increase to “the increasing number of new zero-emission vehicles to choose from for buyers of new and used cars.” Overall, plug-in vehicles now account for 1.4% of the used car market, up from 0.9% in the same period last year.
At the same time, traditional gasoline and diesel power systems continued to dominate the market, accounting for 96.4% of all used car transactions in the previous quarter, although their respective demand fell by 6.9% and 7.6%, in line with the broader downward trend of used cars. market.
A total of 2,034,342 used cars changed hands in the last quarter, a decrease of 134,257 units from the same period last year. SMMT pointed out that the data for the third quarter of 2020 was particularly strong, as the relaxation of lock-in measures resulted in a “strong market rebound”.
The South East of England is the busiest area for second-hand car sales, with 292,049 units sold, followed by the Northwest, West Midlands and East. Scotland recorded 166,941 used car sales, while in Wales 107,315 cars changed hands.
SMMT CEO Mike Hawes pointed out that the record sales in the second quarter offset the recent decline, so “the market has continued to rise so far this year.”
But he added: “In view of this situation, the global pandemic has led to a shortage of semiconductors for the production of new cars, disrupting the new car market, and second-hand transactions are always affected. This is particularly worrying as the fleet is updated – regardless of Is it a new car or a new car. If we want to solve air quality and carbon emissions issues, and use it is essential.”
This has done extraordinary things to surplus value. I bought a Mitsubishi Outlander PHEV two years ago. If I bought the same car today, it would cost me more, even though I was two years older and still had 15,000 miles of time.
The percentage increase looks impressive. However, the actual number of PHEV and BEV cars sold is still very small.
Therefore, despite current concerns about the price and availability of gasoline and diesel (at least in the UK), and plans to stop selling new ICE cars from a certain point in time, I am not sure that most drivers should or will switch to BEV 2030. On the one hand, there are too many variables.
Absolutely correct. Buying a new electric car with your own money is crazy. I suspect that almost all of these are purchased through PCP or contract leases, especially as company cars, because they make a lot of sense.
All it takes is for a major battery innovation to appear, and your 2021 electric car will look like a Ford Anglia.
indeed. It can be said that BMW i3 and i8 are how good the residual value of PHEV and BEV is due to (a) changes in technology or consumer demand and (b) perceptions of automakers and whether they are losing money or continue to fall sharply. Examples lay the foundation for “electrified” competitors. It is true that the I3 has a quirky design and is not as practical as its competitors, but its “pedestrian” range makes it difficult to sell. The i8 seems to be an expensive car to repair and maintain, which is not helpful in resolving residuals.
That said, looking at some of the newer BEVs introduced in the past two years, it is interesting that many automakers have not learned the lessons of avoiding weird designs from i3.
indeed. It can be said that BMW i3 and i8 are how good the residual value of PHEV and BEV is due to (a) changes in technology or consumer demand and (b) perceptions of automakers and whether they are losing money or continue to fall sharply. Examples lay the foundation for “electrified” competitors. It is true that the I3 has a quirky design and is not as practical as its competitors, but its “pedestrian” range makes it difficult to sell. The i8 seems to be an expensive car to repair and maintain, which is not helpful in resolving residuals.
That said, looking at some of the newer BEVs introduced in the past two years, it is interesting that many automakers have not learned the lessons of avoiding weird designs from i3.
The cheapest i3 among car dealers was 77,000 miles in 2014 and sold for 12,500 pounds. The cheapest BMW 320d with the same age and mileage (similar list price) is £10,000. In this case, I3 depreciation is not bad for me. There are many shoemakers talking about electric vehicle technology and battery life on these pages. Time will tell everything, but I think smart money (and the money of those tossing the world) is now in electric cars. In the next 10 years, battery technology will not undergo drastic changes from the ICE that has occurred in the past 10 years. Does the fact that the most affordable new car is equipped with a three-cylinder turbo engine will prevent people from buying 10-year old 4-cylinder aspirated cars in their price range? of course not.
Therefore, although “smart money” is likely to be in electric vehicles, the future path of automakers and car buyers will be interesting and sometimes uncertain.
If you already own one or are buying a new one, this is good news. But this will not encourage me to buy second-hand: Why pay high prices for second-hand models with inferior specifications?
Post time: Nov-18-2021