"Boom in Second-Hand Electric Vehicles!" Affordable used EVs are hitting the market
Electric vehicles are now being utilized.
The surge in the popularity of electric vehicles (EVs) is now evident on the used car market. According to analysis by market observer DAT, the transfer of ownership of pure electric vehicles (BEVs) in the first quarter increased by around 61% compared to the previous year, totaling 50,423 transfers.
Privately owned used EVs are on the rise, with more individuals opting for them over new ones. While the share of private buyers in the new EV market has dropped to less than a third - similar to that of internal combustion engine vehicles - the demand for used EVs continues to grow.
The increased supply of used EVs is a significant factor driving this trend. A spokesperson for the largest German used car platform, Mobile.de, states that the supply of second-hand EVs has increased significantly over the past five years. In March 2020, there were around 11,825 used EVs listed on Mobile.de, compared to 85,422 in March 2025. This trend is expected to continue, but at a moderated rate.
Lease returns and low residual values of BEVs also contribute to the increased supply. A typical three-year-old BEV now costs around 51.5% of its former list price in the trade, while for diesels, it's 62.7%, and for petrol cars, it's even 64%. As a result, used EVs are now roughly as expensive as comparable internal combustion engine vehicles.
While the market for used EVs will remain small for older models, there's still a clear age difference between EVs and traditional internal combustion engine vehicles. The average age of the used EVs offered on Mobile.de in March was around 28.5 months, compared to 69.4 months for internal combustion engine vehicles.
Despite these developments, the used EV market remains a niche, with a rapid major breakthrough not imminent due to insufficient numbers of older BEVs in the vehicle fleet.
Insights:
- The used EV market surge is driven by the growing supply of older models and increased consumer adoption, particularly of Teslas, due to price drops and incentives.
- The average price of a used EV is currently roughly equivalent to that of a comparable internal combustion engine vehicle, thanks to low price drops, incentives, and lower residual values.
- Demand for used EVs is likely to continue growing, driven by improving affordability, declining costs, and federal and state incentives. However, price volatility and supply constraints may pose challenges in the future.
- The community is embracing a shift towards electric-vehicles (EVs), as seen in the increasing transfer of ownership of used EVs by 61% compared to the previous year, according to analysts.
- In response to the surge in popularity of EVs, many are turning to vocational training programs to acquire the necessary skills for maintaining and servicing electric cars, helping to foster a new lifestyle that supports green technology.
- As more individuals opt for used EVs over new ones, moderately priced second-hand EVs are becoming more widely available, making them an attractive option for those considering a switch to an electric lifestyle.
- To stay connected with the latest trends in the EV market, many are turning to platforms like WhatsApp to discuss their experiences, share insightful tips, and ask questions about the pros and cons of owning an electric-vehicle.
- By 2025, experts predict that the popularity of used EVs will continue to grow, making it possible for a wider variety of individuals to make the switch to electric-cars and contributing to a more sustainable lifestyle for the community.