Deloitte comments on SMMT used car sales for Q1

Jamie Hamilton, automotive director and head of electric vehicles at Deloitte, said:

“The doubling of used electric vehicle sales in Q1 signals the emergence of a robust second-hand market, and paves the way for greater take up. An established used vehicle market makes EVs more accessible to those consumers who may not be able to afford a brand new vehicle. These consumers will also benefit from the Total Cost of Ownership savings over a vehicle’s lifetime, that would have otherwise been unavailable to them. Ultimately, it also encourages a greater proportion of zero-emissions vehicles on the road.

“For existing EV owners, today’s figures should instil confidence in their vehicle’s residual value which, eventually, also filters through into more attractive financing deals for new car sales and fleet renewal.

“With record-high fuel prices at the pumps, interest in electric vehicles can be directly attributed to a shift in consumer behaviour. As the cost of fuel has skyrocketed, many dealers have seen a direct correlation with EV enquiries.”

-ENDS-

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