The UK’s used EV market is moving into its “most promising phase yet” , as improving range, maturing infrastructure and growing cultural acceptance start to reshape how electric vehicles are valued in the long-term.

Alex Wright, managing director of Shoreham Vehicle Auctions, said the sector is now “on the cusp of an important moment” where EVs transition from second-car status into becoming the primary vehicle in most households.

Wright claims this marks a shift that will ultimately strengthen demand and stabilise future residual values.

He pointed to the Nissan Leaf as proof that EVs designed by a drive for innovation can deliver long-term desirability in the used market.

“The Leaf was created through innovation, not duress. Fifteen years after launch, we still see 12-year-old Leafs come through our auction with huge success. They follow a clear, predictable depreciation curve, even through the ups and downs of Covid, and we continue to see a 100% conversion rate on every Leaf we offer. That tells you everything about how well it hit its market, particularly in terms of price and reliability.”

But Wright said that while the Leaf was purpose-built to push EV technology forward, many EVs that followed over the past decade were brought to market out of necessity, as manufacturers were forced to rapidly electrify their ranges.

“For many years, EVs were doing 150-170 miles at best,” he said. “They worked perfectly as a second car – school runs, local errands, short commutes, or as a company car thanks to tax incentives, but not as the main family vehicle.”

However, he stressed that this does not represent the EV future.

“We mustn’t let the negative stories confuse the picture. These early models laid the foundation. No one thinks EVs are a gimmick anymore. SVA was the first to introduce an EV-approved certificate because we knew the sector would blossom, and now it is.”

Many new EVs are delivering 400+ mile ranges, and consumer behaviour is already shifting.

“We’re now seeing EVs become the first car in a household, not the second,” Wright pointed out. “And once the market crosses the 500-mile range point, I think we’ll see a major jump in adoption. Range anxiety will disappear, and the pressure on public charging points will ease because drivers simply won’t need to charge as often.”

Wright also believes longer-range EVs will have a far stronger lifecycle in the used market:

“These are vehicles people will happily keep for many years. They’ll enter the used market with better capability, better battery performance and much wider acceptance. All of that feeds directly into stronger future RVs,” he said.

Finishing up, Wright emphasised that the EV sector is entering a new, stable growth phase.

“Exciting times are coming for what EVs can do. The next generation of models will define the future of the used EV market in a very positive way. If you look at where we’ve come from, the progress has been remarkable. And the next two to three years will be transformative. The EV market has an incredibly bright future.”