Hybrid cars became the UK’s second most popular used car fuel type in May behind petrol, according to Indicata’s latest data.
Hybrid sales accounted for 20.6% of used car sales storming ahead of diesel which fell to third place for the very first time with 18.5%.
Used petrol cars remained the nation’s favourite with market share of 54.7% while electric vehicles (EVs) comprised just 6.2%.
It reinforces just how quickly the used market is currently changing and how many EV customers are opting to buy a used hybrid at a lower price point.
Used EV prices also fell again in May by 3% against an overall market price fall of 0.5%.
EVs Market Days’ Supply (MDS), which represents available used car supply divided by its current sales rate fell in May from 73 to 60 days.
It reinforces that the recent fall in used EV prices is having a positive impact on sales, but MDS still remains higher than hybrid at 53 days and both petrol and diesel at 44 days.
More good news for EVs in May was that the Tesla Model 3 was the fastest-selling used car overall which shows that a fall in prices has helped contribute to a growth in sales for the brand.
Meanwhile the UK’s top-selling models remain very consistent with VW Golf still in first place ahead of the Ford Fiesta and Mercedes A-Class.
“The used market is moving on a monthly basis, and it is interesting to see hybrid sales on the rise.
Jon Mitchell, Indicata UK’s group sales director, said: “We believe those drivers who haven’t gone for an EV currently have bought a hybrid instead as they provide some of the benefits of moving to electric at a lower price point.
“The demand for EVs continues to slowly improve as prices fall and this is a good longer-term sign for the market’s overall move to electric.”
Freelance writer for AM, Tom Seymour has been a specialist B2B journalist covering the automotive sector for over 14 years. He started his freelance career in 2015 and currently writes for a variety of automotive, business and technology publications.
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