Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainabili Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainability, green tech, AI, and EU policy. With a background in the humanities, she has a soft spot for social impact-enabling technologies.
The UK’s used car market has been witnessing a surge since April with sales rising 671% year-on-year, according to the latest INDICATA Market Watch. The trend continued in May with an extra 8.9% increase.
But these aren’t the only striking numbers. Used hybrid car sales went up 8% in May compared with April, by the same rate as petrol cars (8%) and just behind diesel cars, with 10% rise. EVs had the biggest increase of 15%.
Similarly, battery electric vehicles (BEVs) saw the highest rise in stock turnover (how many times their stocks were purchased), with 26% for EVs and 24% for hybrids. Especially regarding hybrids, their stock turnover (10.4x) was almost on par with that of petrol and diesel cars (10.9x).
The data showed that the Vauxhall Mokka was the fastest selling BEV used car up to 4-years-old, followed by the Kia Niro and the Mini.
What’s evident from the data is that the easing of COVID-related lockdown restrictions has allowed for both demand and supply in the UK’s used car market. And most notably, BEVs are gradually holding their ground.
Do EVs excite your electrons? Do ebikes get your wheels spinning? Do self-driving cars get you all charged up?
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