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← Newsroom/EVs & hybridsSales & market

Australia’s second-hand EV market is starting to hit its straps

Compiled by ADME Newsroom from 1 source

First reported by The Driven · 25 October at 1:46 pm

Who's covering this — 1 article

EV specialists
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Image: The Driven

The quick read

Full coverage

The Driven·EV specialists·25 October at 1:46 pm

Australia’s second-hand EV market is starting to hit its straps

Australia’s cumulative EV sales have reached around 525,000 – almost all of which have hit the road since 2021. It's a strong base for a second hand EV market. The post Australia’s second-hand EV…

Read at The Driven →

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The quick read

  • Australia's cumulative EV sales have reached around 525,000, with almost all sales occurring since 2021
  • The strong base of new EV sales is driving growth in the second-hand EV market
  • The second-hand EV market is gaining momentum in Australia
  • A strong second-hand market can help drive demand for new EVs

For dealers: A growing second-hand EV market presents an opportunity for dealers to expand their used car offerings and attract new customers

AI-assisted summary of the coverage below — check the original reporting before relying on specifics.

ADME commentary

The ADME angle

The rapid growth of Australia's EV market since 2021, with cumulative sales reaching around 525,000, has significant implications for dealers looking to stock and price used EVs

Dealers who move quickly to establish a strong used EV offering can gain a competitive advantage, as consumers increasingly look for affordable and reliable second-hand options

Understanding the Second-Hand Market

The second-hand EV market is likely to be driven by models that have been on the market since 2021, which will have taken their biggest depreciation hit and are now more affordable for used car buyers

Dealers should focus on stocking models that have held their value well, such as popular EVs that are in high demand, to maximize their pricing and margin opportunities

Pricing and Margin Opportunities

With a strong base of new EV sales driving growth in the second-hand market, dealers can expect to see increased demand and potentially higher prices for used EVs, which can help maintain or even increase margins

Taking Action

This week, dealers can take a decisive action by reviewing their used car inventory and pricing strategies to ensure they are competitive in the growing second-hand EV market, and considering expanding their used EV offerings to attract new customers and drive sales growth

Go deeper — ADME analysis

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