Used EV market booming with record sales and record low prices – industry-leading data source Marketcheck UK

Data produced by Marketcheck, the most significant source of data on the UK used car market, show that the volume of sold EVs per month across the UK is at record highs. The average price of both stock on the market, and sold cars, is at the lowest it has ever been.

The average price of a sold EV has dropped from £30,441 in May 2023, to just £24,378 in June 2024. With the average price for stock on the market falling from £29,105 in May 2023, to £27,306 in June 2024.

In terms of number of used EVs sold – 7,073 were sold in May 2023, with that almost doubling to 13,421 in June 2024.

Alastair Campbell, Marketcheck UK, commented:

“The increased availability and more competitive pricing of used EVs offer great opportunities for buyers looking to make the switch to electric – as many more are choosing to do.

Prices for sold stock have plummeted, and we expect this fall to continue from analysing the growing volume of sold EVs every month.

Our research highlights that there has never been a better time to buy a used EV in the UK market – buyers and dealers should be aware of the potential opportunities. It is a booming market.”