Marketcheck, the leading source of data on the UK used car industry, has reported that the total value of all used electric vehicles on the UK used market surpassed £1 billion on multiple occasions in August.

With the count of vehicles standing at 32,331 for the UK market on August 11th, with an average price of £31,524. On four other individual dates, the total surpassed £1 billion – the 3rd, 7th, 9th and 10th.

Alastair Campbell, Marketcheck UK, commented:

“The used UK electric vehicle market is now at almost 8% of all used vehicles for sale, driven by supply increases as vehicles come off fleet and company car schemes. Days on market remain consistent showing that demand is increasing as supply grows. Certainly the fall in pricing will be helping keep demand high as some quality used EVs like the Tesla Model 3 drop under £18,000.

It is now only a matter of time before EVs are more than 10% of the whole used UK car market – only a few years ago, that was entirely unimaginable.

We will continue to track the development of the used EV market, with Marketcheck’s unique real-time analysis. It is set to tell a fascinating story.”

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About Marketcheck UK:

By tracking data on 650,000 daily car adverts from 11,000 dealers in 14,000 locations, Marketcheck captures an incredible amount of data on the UK used car sector.

Data is matched against the DVLA, SMMT and other sources for normalisation and accuracy.

This includes historical data back to January 2021, broken down by model, price, mileage, days on market, location, website, dealer brand, and so much more.

To learn more, visit https://marketcheck.uk/