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August 8, 2024 In Electric Vehicles, EV Charging

Used EV sales rocket, and the latest on EV charging progress

There’s definitely a surge in positive news about Electric Vehicles right now. The rising demand for EVs has given a huge boost to the used car market in the second quarter of 2024. Plus, a new report shows significant progress in getting EV Chargers in the ground and online.

Let’s unpick these latest developments a little.

Used EV market reaches record highs

The Society of Motor Manufacturers and Traders (SMMT) is reporting that sales of used battery electric vehicles have risen by 52.6% year on year. With almost 46,800 transactions, this equates to a record quarterly market share of 2.4% – that’s up from the 1.7% share of last year.

EVs between 3-5 years old are selling the fastest, with a 138% sales increase year-on-year… and that’s not all. The predications are that by year end, electric car sales will have increased by 5% due to unprecedented demand.

What’s causing the increased EV uptake?

There are many reasons. EVs are cheaper to run, and the falling purchase cost of electric vehicles is a biggie! Technological advancements including improvements in battery power are making newer models more attractive, especially to early adopters of EVs. As they look to newer models, rapid drops in pricing of used electric vehicles attracts more people to the market. And, that 2030 deadline is looming, after all!

When it comes to pricing, the vehicle history check and valuation group HPI says the average price of a three-year-old used EV as 8.5% less than its fossil fuel counterpart. That makes it feel like a no-brainer to many.

According to HPI data, values of used EVs for cars at the same age and mileage point, have halved since September 2022, and you can discover more here.

Significant EV charging progress is underway

There’s good news if you’re looking for an EV Charge Point too! A report by net zero data consultancy Field Dynamics, Zapmap, and Ordnance Survey, highlights progress in installing EV charging infrastructure across Great Britain.

Average coverage across local authorities has increased from 17.2% in 2022 to 24.8% in 2024. The number of charger locations has also increased by 60%. In terms of geography, London is leading the way with 67% coverage of on-street households. That’s significantly higher than the national average of 20%. We’ve been installing on street charge points in the capital, and you can read more about it here.

Outside London, Brighton and Hove (83%), Coventry (76%), and Portsmouth (58%) are leading the charge.

Disparities in charge point coverage

The report shows that disparities do remain though, despite the progress, with 38 local authorities covering less than 10% of their on-street households. More needs to be done, of course, and we are primed and ready to help!

As our Head of Sales, Emma Blades, commented:

“It’s great to see such positive progress when it comes to the installation and operation of EV Charging Infrastructure. Installers, like ourselves, have been working hard to get more charge points in the ground, and online, alongside Charge Point Operators.

We should recognise though, that there are lots of reasons why it’s tricky for some local authorities to extend charge point coverage. It could be the challenge of rural locations, lack of allocated bays in densely-populated residential areas, the location of street furniture, and many other reasons why locations might not be suitable. Often it’s not for the want of trying, and logistical challenges make it difficult, but not impossible.

The government’s LEVI fund will help to make equity of charging more commonplace… and, when discussing the challenges and potential solutions with local authorities in our public sector knowledge sharing workshop, ‘EV Insights’, it’s clear that local authorities are committed to providing the necessary infrastructure. Solutions will be found, where possible, and we can be sure charge point numbers and locations will continue to grow for the benefit of all EV drivers”.

Discover more

Get in touch to find out how we can help with On Street Charging

Find out about EV Charging in Hammersmith and Fulham

Record number of public EV charge points installed this year

The news is out… about 6,000 public charge points have been installed during the first three months of this year, with a quarter of them rapid chargers. That’s according to quarterly figures from our friends at Zapmap, published by the Department for Transport.

The numbers

By April 1^st, 2024, there were just under 60,000 public chargers installed in the UK. That’s a 49% increase on this time last year, and since 2022 the number of public chargers of all speeds has doubled.

Our view

It’s good news for EV drivers all across the country. It’s also positive for people considering the switch to EV, with The Guardian reporting in their EV mythbusters series, that range anxiety is one of the main reasons stopping people switching. Their take is that in the UK (unlike the US), the problem is being addressed and the number of black spots is reducing rapidly. Joju Charging Account Manager, Rob Dickin, agrees…

“Joju is working extensively with our local authority partners to increase the number of chargers available for the public, bringing together public and private sector funding to make sure there are enough chargers available as people make the switch to EVs. The upcoming LEVI funding from the government means we’ll be working even more closely with local authorities to ensure there are chargers available for those without their own off-street parking, so they can access renewable, green energy for their cars.”

Joju has been continuing to install public EV Charging Infrastructure in the first three months of the year, and there’s a lot more to come as Head of Public Sector Sales, Emma Blades, comments:

“The coming months are looking really positive for the EV revolution! With rapid hub projects being finalised and LEVI charging projects due, chargepoint numbers are set to increase further and faster. These projects give a variety of charging speeds for different uses, whether that’s residents charging overnight, visitors charging at a particular destination for a few hours, or people wanting to get charged and on their way as soon as possible. As the availability and ease of charging increases, the EV switch will be more accessible for all and we’re excited to continue to help power people’s journeys”.

Absolutely right! The Joju Charging team looks forward to bringing EV drivers many more public charge points in 2024 and beyond, in conjunction with councils across the UK and our CPO and funding partners.

And finally…

Check out Zapmap for the nearest EV charge point on your travels.

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