The latest SMMT figures reveal that while overall used car transactions dipped slightly in the first quarter of 2026, demand for second-hand electric vehicles surged to a record high. Between January and March, 86,943 used EVs changed hands in the UK – a 32% increase compared with the same period last year.
That means nearly one in every 23 used car buyers chose a fully electric vehicle in Q1, pushing EV market share to 4.3%. Just a year ago, closer to one in 30 buyers were making the switch.
The figures are particularly striking given the wider market context. Overall used car sales fell marginally by 0.2% to just over two million transactions, ending 12 consecutive quarters of growth. In other words, consumers are still buying cars, but an increasing number are going electric.
There is a clear push-and-pull effect driving this surge.
The push is coming from rising petrol and diesel costs. Ongoing instability involving Iran and the wider Middle East has once again exposed just how vulnerable motorists remain to fuel price fluctuations. Every time there’s a price spike at the pumps, drivers reassess running costs, particularly those households and businesses covering high annual mileages.
The pull, meanwhile, is the growing supply entering the used market. After several years of manufacturer investment and strong fleet adoption, increasing numbers of second-hand electric cars are now reaching dealer forecourts at realistic and increasingly attractive price points.
A combination of economic pressure and growing availability has created the ideal conditions for rapid growth in the used EV market.
For many, the financial argument is impossible to ignore. Motorists able to charge at home can access ultra-low overnight EV tariffs, with some rates dropping below 6p per kWh. For an efficient electric vehicle, that can reduce running costs to around 2p per mile in real-world driving – dramatically cheaper than petrol or diesel.
The used EV market is also reaching critical mass. This no longer feels like early-adopter behaviour, with mainstream consumers responding to a mix of economic reality, expanding charging infrastructure and improved product choice.
Models such as the Tesla Model 3, Kia e-Niro, Hyundai Kona Electric, MG4, Nissan Leaf and Volkswagen ID.3 are now appearing in meaningful volumes across the used market, giving buyers genuine choice across multiple price points.
Pricing overall is far more competitive, with used EV values correcting sharply throughout 2024 and early 2025. While this created challenges for some retailers, it ultimately made electric cars accessible to a much wider audience. In many cases, used EVs now compare favourably with petrol or diesel alternatives, especially when running costs are factored in.
Most encouragingly, this growth is happening organically within the used market rather than being driven purely by new car incentives. Most motorists buy used rather than new vehicles, so the long-term success of electrification depends heavily on the strength of the second-hand market.
Momentum in the used EV market is also strengthened by continued growth in new electric vehicle registrations. According to the latest SMMT figures, battery electric vehicle registrations rose by 59.1% year-on-year in April, climbing from 24,558 units to 39,084. EVs accounted for 26.2% of all new car registrations during the month, up from 20.4% in April 2025, while year-to-date EV registrations reached 176,698 units – a 22.1% increase compared with the first four months of last year.
EVs overall, including hybrids and plug-in hybrids, represented more than half of all new car registrations in April, while the UK also passed the milestone of registering its two millionth electric vehicle.
This matters enormously for the used market because today’s new EV registrations become tomorrow’s used car stock. Continued growth in new EV adoption strengthens the supply pipeline into the second-hand market over the next two to four years, giving consumers even greater choice and helping normalise EV ownership further.
Consumer confidence is improving too. Concerns around battery degradation and charging infrastructure have not disappeared, but buyers are becoming more informed and increasingly comfortable with EV ownership. Dealers themselves are also significantly more knowledgeable than they were even two or three years ago, helping remove uncertainty at the point of sale.
There are still challenges ahead. Public charging infrastructure remains inconsistent in some areas, while technician shortages and EV training gaps still need addressing. But the direction of travel is clear.
The wider used car market may have paused temporarily in Q1 but used EVs are accelerating rapidly. This feels less like a passing trend and more like a genuine shift in consumer behaviour.
For dealers, the opportunity is obvious. Those who embrace used EVs, understand the technology and help educate customers will be best placed to benefit from one of the fastest-growing areas of the automotive market.