AFVs accounted for 14% of used car listings in October

Hybrids and EVs collectively accounted for 14% of used car listings in October, according to MOTORS’ Market View.

Hybrids took up 9.6% of stock levels, up from 7% a year ago, while EVs grew from 3% to 4.6%. More younger hybrids were sold – those aged under two years which were up by 52% YoY achieved their highest ever volume and those aged 2-5 years increased 24% YoY.

Lucy Tugby, marketing director of MOTORS, said: “October’s Market View shows how the greater availability of younger hybrid models is resonating with used car buyers weighing up the fuel options for their next car.

“For many buyers going hybrid is an easier choice to make than committing to a pure EV and we’re seeing this in the number of online views and the fast sales being achieved.”

Petrol dominated used stock volumes, accounting for 54% of cars listed on MOTORS. AFVs increased at the expense of diesels which dropped from 35% to 32% YoY.

The average price of a used car on MOTORS increased 2% (£404) in October to £17,899 but this was down £24 YoY (£17,923).

Averaging just eight days in stock, the MG3 hybrid was the fastest-selling car. The fastest sales were achieved by franchised dealers (20 days), followed by car supermarkets (22 days) and independents (50 days).

Tugby added: “Overall, October’s used car market proved to be relatively stable, despite some of the consumer uncertainty in the run-up to the Autumn Budget.

“Although prices trended upwards, they remained on a par with last October, with healthy demand seeing dealers achieving faster sales than they have for the last two months.”