Market for Used Electric Cars Growing - From a Low Level
The market for used electric cars is still small but growing rapidly. In the first half of the year, purely electric vehicles accounted for 2.19 percent of ownership transfers nationwide, according to an analysis of figures from the Federal Motor Transport Authority by the dpa. A year ago, it was just 1.25 percent. The shares are a bit higher in Bavaria with 2.62 percent, Hamburg with 2.5 percent, and Baden-Württemberg with 2.44 percent. The lowest values can be found in Saxony-Anhalt with 1.18 percent and Mecklenburg-Western Pomerania with 1.28 percent.
Despite the significant increase, electric vehicles still play a much smaller role in the used market compared to new registrations. For the latter, the share of electric vehicles in the first half of the year was much higher at 12.5 percent. And the ranking of states with the highest shares is slightly different, with Baden-Württemberg leading with 15.6 percent of new registrations being electric, followed by Schleswig-Holstein (15.0) and Berlin (14.7 percent). Bavaria ranks only fifth with 13.1 percent. Saxony-Anhalt remains at the bottom with 7.2 percent. A comparison in absolute numbers also shows the lag in the used market: in the first half of the year, there were 71,462 ownership transfers for electric vehicles but 184,125 new registrations - while for all cars together, there were more than twice as many ownership transfers as new registrations.
The Offer is Still Rather Small
One reason for this is that there are still relatively few used electric cars. Since they have only been sold in larger numbers for a few years, their share of the vehicle fleet in Germany, which is the main source of ownership transfers, is still comparatively small. Additionally, cars are generally sold as used only after a few years, so the new registrations from last year hardly play a role here yet. This is also evidenced by a search on the large online marketplace Mobile.de: Out of almost 1.4 million used vehicles, only 65,000 are pure electric cars.
There is room for increasing shares in the used car market for electric cars if the supply increases. This is also indicated by surveys from market observer DAT, which has noted an increasing willingness to buy used electric cars over the past three years. The biggest obstacle has been the still too high price. However, the situation has improved in this regard: The residual values of electric cars have recently dropped significantly. According to DAT, this trend has continued into May and June, albeit not as strongly.
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