Electric vehicles (EVs) and hybrids accounted for almost one in five used cars stocked by dealers in November, hitting a new high for alternatively fuelled cars, according to MOTORS & Cazoo’s Market View analysis.
Despite consumer uncertainty in the lead up to the Autumn Budget, dealers chose to increase their overall inventories and were rewarded by fast sales as prices remained steady.
Together EVs and hybrids accounted for 18% of dealer stocks, ahead of the previous record in June and three percentage points higher than November 2024.
The jump was powered by EVs which increased in volume by 8% month-on-month (MoM) and 32% year-on-year (YoY), accounting for 7% of listings, their biggest ever share. Hybrids grew 3% MoM and 13% YoY, taking an 11% share.
The rising volumes were largely driven by older vehicles entering the used market with EVs aged five to 10 years old up 91% YoY and 18% MoM. While two to five year old models increased respectively by 52% and 10%.
Increased availability resulted in downward price movements with EVs averaging £24,739, down 2% MoM, and hybrids at £24,247, down 1% MoM.
An EV was also the fastest selling car of the month with nearly new examples of the MG S5 EV being snapped up in 11 days.
Lucy Tugby, Marketing Director of MOTORS & Cazoo, said: “Our Market View analysis reflects the increasing confidence dealers have in stocking EVs as more units enter the used car market.
“In addition the softening of EV prices, now tracking at 9% lower than 12 months ago, make them more affordable to a growing number of buyers considering making the switch.
“However, over the coming months we will see whether the Budget’s announcement of a pay-per-mile fuel duty on EVs from April 2028 will dampen some of this enthusiasm.”
The Market View analysis showed overall stock levels unchanged MoM at 55 units. The average price of a used car was also stable at £17,859, just £14 more than October.
Demand was strong in November with cars averaging just 29 days on forecourts, selling three days faster than October. The quickest sales were achieved by car supermarkets and franchised dealers, both 22 days, with independents at 44 days.
London and Wales continue to be the highest and lowest regions for used car prices at £21,919 and £14,605 respectively.
While prices were either flat or down across most regions there were new highs for the year achieved by South East England (£18,722), Northern Ireland (£17,771) and North West England (£17,494).