Independent dealers increasing EV stocking levels, says Auto Trader

Auto Trader has recorded a “significant increase” in the number of independent dealerships stocking electric vehicles.

Data comes as supply of traditional fuel types slows, requiring retailers to diversify to meet stock requirements and evolving consumer demands.

Automotive retailers are having to navigate a dramatic shift in stock dynamics due to a combination of COVID shortfalls and the growing electrification of the retail market.

Over the past 12 months, petrol supply has remained flat (up just 0.1%), while diesel availability has dropped by 12.8%.

In contrast, the supply of used electric vehicles has surged by nearly half (44%) year-on-year (YoY), albeit starting from a lower base.

Independent retailers are responding to these changes by evolving their sourcing strategies, specifically as the three year plus age cohort electrifies.

A 161% increase in EV stock for independents

Starting from a lower base, larger increases are expected from independent retailers, explaining the 161% YoY increase in electric stock advertised by them.

Since 2023, a third (33%) of independent retailers have stocked at least three EVs for at least 15 days, resulting in a 24% leap in the time period.

With the majority of franchise retailers having sold new EVs for years now and benefitting from product training, growth is smaller.

Data shows on average a 39% increase in the number of EVs advertised by franchise retailers. 

Demand for used EVs on Auto Trader rose 30% YoY in May.

Conversely, demand for petrol and diesel fell 0.7% and 9.8% respectively over the same period, highlighting the growing opportunity of stocking electric vehicles in meeting consumer demand and maintaining business profitability.

The recent surge in consumer appetite for used electric cars is the result of an increase in choice, availability and affordability.

Two in five used EVs now below £20k price point

Electric cars: The Facts, a cross-industry initiative from Auto Trader, SMMT, and ChargeUK and - endorsed by the Department for Transport - recently updated to show that two in five used EVs are now below £20,000.

Ian Plummer, Auto Trader’s commercial director, said: "To adapt to this fast-changing retail landscape, retailers need to adopt broader sourcing strategies.

“With strong demand for electric, it’s vital retailers use data to inform pricing and sourcing strategies for this new and perhaps unfamiliar part of the market where gut instinct alone can no longer be relied upon.

"Used electric vehicles are a great option for many drivers and importantly represent a significant opportunity for retailers.”