The used electric vehicle market is experiencing significant growth in Europe, with countries such as Spain, Austria, France, Germany, Switzerland, and the UK witnessing increased sales. According to data from JD Power, in August, used electric vehicles aged two to four years sold in an average of 66.1 days in Spain, compared to 28.9 days in the same period last year. This trend indicates a growing demand for used electric vehicles.
The UK and Germany also saw a notable decrease in the number of days it takes to sell a used electric vehicle. In the UK, the average number of days to sell a used electric vehicle was 27.9 days, while in Germany, it was 43.7 days. The increasing popularity of used electric vehicles can be attributed to various factors, including government incentives and growing environmental concerns.
However, the used electric vehicle market faces a significant challenge in terms of residual value. In Germany, a three-year-old electric vehicle with 60,000 kilometers on the odometer retains 38.3% of its value, compared to 34.2% in the UK. This issue may impact the growth of the used electric vehicle market, as consumers may be hesitant to purchase vehicles that depreciate rapidly.
In contrast, the outlook for used internal combustion engine vehicles is less optimistic. According to JD Power, the number of days it takes to sell a used diesel vehicle has increased in several European markets. The high and constant fuel prices are driving consumers to switch to electric mobility, which is expected to further boost the demand for used electric vehicles.
The European market offers a range of excellent used electric vehicles, featuring advanced technology, comprehensive equipment, and significant range. Although the used electric vehicle market in Spain remains relatively small, with approximately 23,400 registrations in the first eight months of 2026, it is expected to grow. The market share of used electric vehicles, including plug-in hybrids, stands at 4.8%.
As leasing contracts expire in Europe, opportunities to acquire used electric vehicles at affordable prices are expected to arise. This is likely to further increase the demand for used electric vehicles, driving growth in the market. Industry experts anticipate that the popularity of used electric vehicles will continue to rise in the coming years.
The growth of the used electric vehicle market has implications for the automotive industry as a whole. As consumers increasingly turn to electric mobility, manufacturers and policymakers will need to adapt to changing market trends. The development of supporting infrastructure, such as charging stations, will be crucial to sustaining the growth of the electric vehicle market.
Key points
- Used electric vehicles are gaining popularity in Europe, with sales increasing in countries such as Spain, Austria, France, Germany, Switzerland, and the UK.
