If you wanted to get into the EV game but were put off by the high upfront costs, it looks like your wait is over.
According to a study by Glass’s, an automotive analysis group, the UK used electric vehicle market is booming, reports Motoring Research. The prices are good too.
Glass’s has followed the used electric vehicle market and says there are now 7,500 battery-powered used vehicles on sale in the country. 15 months ago, that was only 1,500.
To save you the math, that’s a 130% increase.
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The sharp rise in the number of used electric vehicles entering the market over the past year marks an inflection point in a way.
This suggests that the electric vehicle market has passed the innovation stage, is well in the early adoption stage, and may reach early majority. It’s a trend we should see replicate around the world as EV markets mature.
While the first users are now abandoning their first or second electric vehicles, the second-hand market is benefiting from a renewed useful supply.
For used buyers, the advantage is that electric vehicles are now becoming very affordable. Sure, they might not be new, but the sweet spot for a used EV would be around £ 5,995 ($ 8,300).
Now is the time to buy a used electric vehicle. The market will only improve as more vehicles go on sale, giving used buyers even more choices.
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Published March 4, 2021 – 11:28 UTC