8:09 am, June 30, 2022

Electric cars were the fastest used cars to sell on dealers’ forecourts in June, new figures show.

Auto Trader data reveals not only was electric the fastest fuel type to sell during the month, but seven out of the top 10 fastest used cars were powered by electricity.

EVs took an average of just 27 days to sell during June, compared to 33 and 35 days for used petrol and diesel cars respectively.

The Mini Electric, Tesla Model 3, MG5 and the Hyundai Ioniq 5 all shared June’s top spot, each taking an average of just 24 days to sell, ahead of the current national average of 31 days.

The full list of the fastest and slowest selling used cars in June is listed below.

Just three traditionally fuelled cars made it onto Auto Trader’s list, but in a stark contrast with this time last year, none are diesel powered.

In June 2021, seven of the top ten were diesel, two were petrol, and one was a petrol hybrid – not one pure EV made it onto the list.

In fact, the highest ranked EV in June 2021, was a Kia e-Niro, which came in at number 86.

Auto Trader says the data is in-line with what it’s seeing on its marketplace.

Based on the volume of advert views and searches, last week saw demand for EVs increase 65 per cent on the same period last year, versus a 22 per cent and 29 per cent decline for petrol and diesel respectively.

Taking a wider view, the data also shows the volume of nearly new cars (those less than 12 months old) in the market has fallen 53 per cent in June versus this time last year.

This is the lowest of any other age cohort, and by some margin, said the company. As a result, all but two of the current top 10 falls within this age group, which are snapped up by desperate would-be-new buyers.

Richard Walker, Auto Trader’s director of data and insights, said: ‘The data highlights just how fast the electric market has moved on since last year.

‘Fuelled by greater choice, better range, and more awareness, electric vehicles are now very much in the public consciousness. And with no end in sight of the rocketing fuel prices, for those that can afford the “green premium”, making the switch has never been more appealing, especially as we calculate the average EV driver can save around £176 per 1,000 miles using a home charger.

‘Clearly there is a real growing opportunity here for retailers in not just the new car market, but the used too.’

Regional variances

On a regional level used cars are, on average, selling the fastest in the Midlands, said Auto Trader.

It used a a Volkswagen Golf (petrol, manual) as a benchmark and it sold the quickest in the East Midlands and the West Midlands, taking an average of 49 days to sell respectively.

These ares are followed by the south west, Scotland and London, where the same car took 50 days to leave retailers’ forecourts.

Conversely, it’s in Wales where used cars are, on average, spending the longest time on forecourts, with the Golf lingering for a comparatively lengthy 55 days.

Of the 12 countries and regions, EVs topped the list in five: East Midlands (Tesla Model 3, 24 days), West Midlands (MG MG5, 24), east of England (Mini Electric, 24), London (Tesla Model 3, 23), and the north west (Kia Niro, 24).

However, EVs aren’t being snapped up everywhere. In fact, in four regions or countries, EVs didn’t make the top 10 at all, including Scotland (Vauxhall Corsa, petrol, 20), north east (Fiat 500, petrol, 24), Northern Ireland (Seat Ibiza, petrol, 31), and Wales (Mercedes-Benz GLA, 31).

Walker added: ‘As we’ve seen there are significant differences across the UK, influenced by unique supply and demand dynamics, so when it comes to your forecourt strategy, there isn’t a one size fits all approach.’