Motorway highlights demand for hybrids amidst EV concerns

Overall demand for used-cars remained stable in Q2, with average sold prices rising 0.4%,  but an increased demand for hybrid vehicles is reflected in the 2.85% increase in average sale price according to Motorway’s Inside Track.

Hybrid and EV sale prices experienced contrasting changes as EV sale prices have fallen by 8.08%. There is demand for lower emission used-cars but this is accompanied by uncertainty about buying a fully electric vehicle.

James Wilson, Chief Operating Officer at Motorway, said: “Motorway’s research reveals a contrast between Brits wanting to invest in more sustainable second-hand vehicles, and the reality of industry sentiment around fully electric vehicles.

“EVs are selling for less on our platform than in previous quarters, but we’re seeing an increase in demand for hybrid vehicles from dealers.

“Although it’s positive that we’re heading in the right direction affordability-wise, if the UK stands a chance of hitting its sustainability goals, there needs to be much more of a focus on building and maintaining an EV infrastructure that reassures buyers, both trade and consumer.”

The list of top 10 most frequently sold used-cars on Motorway in Q2 is dominated by petrol and diesel vehicles.

EVs were not mentioned in the recent King’s Speech. 32% of Brits want to see the new administration invest more money into EV infrastructure like charging points, while grants for buyers (27%) and tax-breaks for manufacturers (20%) that make EVs more affordable were also mentioned.

Wilson said: “The new government has an integral role to play in supporting the transition to used EVs, and we’d like to see this higher up on their agenda.

“Our research shows that the intent is there from consumers and they are willing to pay a premium to switch to more sustainable motoring. The missing puzzle piece is for the EV infrastructure in this country to be more supportive of this switch.”