Used electric vehicles (EVs) demand has risen by 36.4% year-on-year in May, according to Autotrader’s latest AI-powered Retail Price Index.
The increase in demand is now outpacing supply in the market, which last month fell by 11.2% year-on-year. Used EVs are selling faster than ever, taking an average of just 24 days to sell, 12 days quicker than the same period last year, and a full five days faster than the average used petrol car.
This shift in supply and demand dynamics has stabilised EV pricing with May marking the first time that EV pricing has been non-negative since December 2022.
The 3 to 5-year-old EV segment is proving particularly important, attracting 48% of all used EV enquiries and representing the fastest-selling age bracket.
Such is the demand for electric, one in five cars on UK roads under five years old are expected to be electric by the end of this year.
The used car market overall remained in robust health in May, with strong consumer demand, cars selling quickly, and retail prices rising. The speed of sale for the average used car is now just 29 days, two days quicker than in May 2025.
According to , the average price of a used car was £17,306 last month, which on a year-on-year (YoY) and like-for-like basis, represents a 0.7% increase – the strongest rate of growth in nearly three years.
Marc Palmer, Head of Strategy and Insights, said:
“May’s data reinforces the resilience of the used car market, with car buyers evidently shrugging off broader concerns about the economy. While demand has normalised slightly year-on-year, it continues to outpace supply, supporting both pricing and faster stock turn for retailers.
“Cost factors are nonetheless coming through strongly in terms of the type of car consumers are increasingly looking at. Electric vehicles are the standout story this month, proving hotter than ever as buyers react to the perceptions of costly petrol and diesel motoring. As demand accelerates and supply tightens, EVs are selling at record speeds and, importantly for retailers, prices have now stabilised following a prolonged period of decline.
“We’re also seeing continued strength in older vehicles, where constrained supply and sustained demand are creating clear margin opportunities. Overall, the fundamentals remain firmly in retailers’ favour, with well-priced stock continuing to sell quickly.”
Colin Walker, Head of Transport at the Energy & Climate Intelligence Unit (ECIU), said:
“With war in the Middle East sending the cost of petrol and diesel skywards, we are seeing a surge in the sale of both new and used EVs as more and more drivers look to end their vulnerability to volatile oil markets over which they have no control.
“Despite this acceleration in both the UK’s, and the world’s, transition to EVs, we continue to hear calls from some parts of our industry for the UK’s EV sales targets to be watered down, and slow the country’s transition to electric driving. Doing this would this keep millions of families stuck driving petrol cars that cost hundreds, even thousands, of pounds a year more in the midst of a cost of living crisis. It would weaken the UK’s energy security, keeping us reliant on imports of oil from abroad. And it would undermine the future of our car industry, holding it back from making the transition to building the new, electric vehicles to which our major export markets are inexorably moving – a recipe for factory closures and mass redundancies.”
Image courtesy of Green Car Guide
