EVs are set to make up nearly a third of annual UK used car sales by 2030, new research has found.

Using data from the Department of Transport and DVLA, insurance firm LV= compared sales of current new electric cars with petrol and diesel ones. 

The data was then used to model expected changes in the number of electric car sales and petrol car registrations over the next decade, based on current growth rates.

It worked out that by 2030 – the first year of the Government's ban on the sale of new petrol and diesel cars – 31 per cent of used cars will be battery electric cars.

Last year, batter electric cars made up 2% of the used car market with 129,032 sold. By 2030, this figure will rocket to over three million, or 31%.

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LV= also said that by 2025, 6% of the total number of cars on the road will be EVs – and it could be even higher than that due to the Government's Zero Emission Vehicle (ZEV) Mandate due to be introduced in 2024, which will require manufacturers to sell a certain number of electric cars each year. 

Gill Nowell, Head of EV at LV= General Insurance said: "While the average annual running costs of electric cars are significantly cheaper than petrol or diesel cars, the sticker price remains one of the big barriers for drivers considering making the switch, which is why these projections for a thriving second-hand market by 2030 are so encouraging."

She added: "The rapid development of the second-hand market is so important and can’t come quickly enough - the more electric cars on the road, the more upfront costs will come down, creating competition in the market and ultimately meeting our goals of making the nation’s roads greener.”

Many forecourts are already stocking EVs – and that's only set to grow