The search for used electric vehicles has more than doubled in a year. Are they the new diesel cars?

Diesel vehicles dominated the used car market for years, but electric and hybrid cars are gaining ground. What is changing?

For many years, diesel vehicles dominated the used car market in Portugal. But demand is shifting, with hybrids and electric cars gaining traction. Are we witnessing another paradigm shift?

This was the starting point for another episode of Auto Talks da Razão Automóvel, recorded at the Hybrid and Electric Car Show in Porto.

Diogo Teixeira, Publisher of Razão Automóvel, spoke with Filipe Neves, CEO of Pisca Pisca, about market trends and their implications for those buying or selling used cars. Watch the full episode:

Demand for used electric cars has more than doubled

According to Filipe Neves, interest in buying used electric vehicles has more than doubled compared to last year. Requests for contact from advertisers on Pisca Pisca have increased by over 150%, and while previously one in seven requests related to electric and hybrid vehicles, the ratio is now one in four.

But it’s not just demand that’s rising. According to the official, electric and hybrid vehicles now account for more than 20% of cars listed on the platform, up from 15% last year. On the other side of the equation, among imported used vehicles, diesel cars have dropped from about half of the total to around 30%, while hybrids and electric vehicles now make up approximately 45%.

There are many reasons for this new reality, but Filipe Neves cites rising fuel prices as one of the main factors contributing to this change.

Even if these prices stabilize, he believes this trend will continue. According to the CEO of Pisca Pisca, there is still room for demand growth, especially among those looking for a second car or a model for urban use.

What to check before buying a used electric car?

Technological advancements also bring new challenges. Used electric cars that are five or seven years old may experience more significant depreciation due to improvements in batteries, range, charging capacity, and the efficiency of electrical systems.

Nevertheless, the battery’s condition and health can already be checked through specific tests. For experts, this is one of the main concerns when purchasing a used electric vehicle, just as the particle filter is an important factor to consider in diesel vehicles.

Despite the growing demand for electric and hybrid vehicles, diesel cars still account for around 35% to 37% of the used vehicle supply on the platform. Therefore, the transition should be gradual, with internal combustion engine models remaining available in the market for the next few years.

During this discussion, the challenges this change poses to fleet managers and the importance of measures to facilitate vehicle fleet renewal were also addressed.

Meeting scheduled at the next Auto Talks

There are thus plenty of reasons to watch/listen to the latest Auto Talks, Razão Automóvel’s new editorial format, on the usual platforms: YouTube, Apple Podcasts, and Spotify.