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Electric and hybrid sales surge in used market - report

More economical and greener electric and hybrid vehicles are becoming increasingly popular in the used car market.

Used electric car sales rose by 47.10% and hybrid used car sales rose by 24.16% compared to the same period last year (Q1 2013), according to Experian Automotive which has released its Q1 2014 used car data report.

Andrew Ballard, principal consultant for Experian Automotive, said: “Whilst low in number in absolute terms, we have undoubtedly seen an increase in electric and hybrid vehicles in new car sales, over the past few years.

"This has been encouraged by not only the vehicles’ known benefits, such as zero or minimal emissions and their exemption from road tax; but by the government subsidies given to drivers upon purchase.

"However electric vehicles tend to suffer from higher levels of depreciation according to the UK valuation guides, this is likely to be due to in part to the subsidy impact when new, which makes them exceptionally good value for money vehicle in the second hand market.”

Other highlights in the Experian Automotive used car data include:

• Superminis are still most popular vehicles in the used car market (33.42% rise compared to Q1 2013).
• The South East (+7%) and the West Midlands (+6.92%) saw the biggest sale increases in the used car market across the regions.

> Experian Q1 2014 used car infographic.

Click here for used car best practice and procurement insight

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