Diesels dominate ‘fastest-selling’ used cars; but EVs selling faster than second-hand petrol vehicles

Used electric vehicles (EVs) are currently selling faster than their petrol counterparts for the first time, according to data from Auto Trader’s which specialises in the sale of new and second hand cars.  

Its ‘Fastest Selling Index’ tracks the potential speed at which vehicles will sell based on live supply and demand in the market, and its latest data reveals that on average, a used EV is currently taking just 26 days to sell, which is two days faster than a used petrol vehicle (28), but two days slower than a used diesel (24).

Auto Trader claims that used EVs are selling 41% faster than at the start of the year, leaving forecourts 18 days sooner than they did in January (44 days).

Digging into data shows that it’s the Nissan Leaf (2017 registration) which holds the current title of fastest-selling used EV in the UK, taking an average of just 20 days to leave forecourts; followed into second place by the French electric supermini, the Renault Zoe (2016), which is taking 23 days to sell. Behind them comes the Tesla Model 3 (2021), which is taking 27 days to sell.

Auto Trader says the acceleration in the days to sell reflects the ”massive growth in consumer demand for electric”, which is reflected in the 122.6% year-on-year increase in the volume of EV searches and advert views on the company’s website. However, it stresses that while the growth in popularity of both new and used electric vehicles is clear, they still represent a small percentage of the overall market, and evidence suggests only a small number of people show genuine intent towards purchasing one.

It says that just 25% of EV considerers account for more than three quarters (79%) of all EVs looked at on its marketplace.

According to Auto Trader, the reluctance is due, in part, to the significant price disparity in both new and used EVs. The average sticker price of a ‘nearly new’ EV (under 12 months old) is currently 47% more expensive than its petrol or diesel equivalent, while a one-year-old is 40% more; a two-year-old is 39% more; and even a five-year-old electric car is 10% more expensive. It’s no surprise then that 38% of consumers identify the upfront expense of an EV as a primary barrier to entry.

Despite the increased speed of sale for used EVs, looking at all fuel types across the total used car market, Auto Trader data shows that a pure electric car failed to make it on to the national list of fastest-selling models. Hybrids were better represented, with the Hyundai IONIQ (2017) and Toyota Prius+ (2020) ranking at second and seventh respectively.

However, it’s the much-maligned diesel that continues to dominate, representing seven of the top 10, including the number one spot with the SEAT Alhambra (2017), which is currently taking an average of just 15 days to sell.

Auto Trader says low-emission vehicles are faring much better in the ‘nearly new’ market, making up four of the top 10 used cars aged under 12 months old. The petrol-hybrid Toyota Prius+ (2020) and Kia Niro (2020) are in first and seventh place, selling in 16 days and 27 days respectively. The pure electric Tesla Model 3 (2021) and MG ZS (2021) take the sixth and tenth spot, taking an average of 27 and 29 days to sell respectively.

Auto Trader’s director of Commercial Products, Karolina Edwards-Smajda, said: “The acceleration in the speed of sale of used electric vehicles reflects a significant increase in consumer demand this year, which has been driven by a myriad of factors, not least rising fuel costs. The used electric market will play an important role in driving mass adoption and reaching the government’s 2030 targets. 

“However, as it stands, the ‘green premium’ for buying a new or used EV mean they remain out of reach for the vast majority of car buyers. If the government is serious in its ambition, it will need to do a lot more to make EVs financially accessible to more than just the most affluent - it would do well to take the lead from other European markets which are applying a smarter approach to incentives and a more comprehensive set of enabling policies.”

Current fastest selling used cars – all fuel types (as of 23rd November 2021)

Current fastest selling used electric cars (as of 23rd November 2021)

Current fastest selling nearly new (under 12 months) cars (as of 23rd November 2021)