Ian Plummer, Commercial Director at Auto Trader, provides an overview of the UK EV market and shares insights into expectations for the coming months.
While new EV registrations are on the rise, the significant upfront cost remains a major obstacle. Tactical incentives are being implemented to stimulate demand, with early signs of success. Over the past two years, used EV prices have declined by 40%, reaching parity with their ICE counterparts—a development that has invigorated the used EV market. Currently, 3- to 5-year-old EVs are the fastest-moving segment.
Ian concludes by noting early signs of price stabilization and underscores the importance of adopting a long-term perspective on EVs.
