Used electric car sales are running at record levels and are currently outperforming other fuel types across August to date, BCA has reported.

So far this month, electric cars currently have the highest first-time conversion of any fuel type and also the strongest CAP performance of any fuel type for both the monthly and live product.

BCA said its data indicated that the launch of the Electric Car Grant in July wasn’t impacting used EV demand.

The grant aims to support the transition to zero-emission vehicles and incentivise sustainable automotive manufacturing by offering grants of either £3,750 or £1,500 for eligible new cars that are priced up to £37,000 and meet the sustainability criteria.

While the industry has raised concerns over used EV values following the grant, wholesale trading data from BCA Valuations shows that used EV demand certainly hasn’t weakened in the last month and, notably, industry guide live pricing reversed its moves for three-year old/60,000-mile EV product mid-week last week, to reflect the momentum seen in the market

BCA’s chief operating officer Stuart Pearson commented: “BCA’s inventory levels remain healthy for the summer months – we continue to sell more than 1,000 used EVs every week, so supply issues are not driving the daily strong price performance we are seeing in this sector. Many motor trade buyers have realised both the incredible value and the profit opportunity that many EVs represent, given the growing acceptance from consumers for electric vehicles.”

He added: “BCA continues to support our customers trading in the EV sector, introducing unbiased and detailed Battery Health Grading for electric vehicles last year and launching an upgraded EV report certificate this July that includes many new comparative features across similar model/ age/mileage vehicles, for a true indication of condition.”

Pearson also said the sector should ensure defleeted EVs are presented in the best possible condition.

“We’ve talked about the remarketing basics for many years, however there are new levels of sophistication that every seller should be using to ensure that EVs reach their optimum price in the market.

“This includes investing in the right level of pre-sale preparation, describing them properly with in-depth information covering not just the cosmetic and mechanical condition, but also the health of the battery, and aligning all of this with real-time pricing intelligence to support accurate decision making.”