Used EV market rocketing – time to get ready!
The used car market has stuttered in recent years, but is starting to move into top gear – thanks to rocketing sales of second-hand electric vehicles (EVs).
The question is – are we ready?
Newly released statistics from the Society of Motor Manufacturers and Traders (SMMT) found that the number of used cars that changed hands across the UK in the second quarter rose by 4.1 per cent compared to the same period last year. But that was across all vehicle types.
Looking solely at battery EVs, the number of second-hand cars sold in the three months rose by an incredible 81.8 per cent. There was double-digit growth for plug-in hybrids and hybrids too.
Okay, you may say such a rise is inevitable given that the EV market is still very much in its infancy compared to that for traditional vehicles.
It’s true, those early adopters of EVs will now be considering their second or third electric vehicle, therefore of course there’s going to be an increase in the used market.
But that’s the point, those EVs are being replaced by newer models and, coupled with individuals and businesses switching to electric for the first time, we are also seeing the sales of new EVs increase exponentially.
And it’s only going to go one way. Now less than a decade away from the ban on the sale of new diesel and petrol cars in the UK, the number of EVs on our roads is snowballing.
As a company, we’ve identified the acute need to upgrade our EV charging infrastructure to satisfy the exploding demand – and are doing something about it.
Weev is investing millions to bring thousands of charging points to Northern Ireland over the coming years.
Our target is to build the region’s largest privately-owned charging network and we’re well on the way with hubs established in a variety of convenient locations including hotels, forecourts and shopping centres – with many more ready to come online.
We’re also supporting consumers and businesses to help them electrify their homes and workplaces by installing charging points for their own private use; unlocking government grants in the process.
Talk to us about we can help you start (or continue) your EV journey. Visit www.weev.ie to find out more. #WeevGotThePower