Used EV costs proceed to stabilise and market share file in Feb
Common used electrical automobiles have plateaued on the finish of 2024 and into 2025, whereas gross sales reached file ranges in February, in accordance with trade stories.
The most recent knowledge from Marketcheck reveals that when taking a look at fiscal quarters, in 2023 the common final listed throughout 2023 for a used EV (excluding the primary quarter) was £28,843.61.
By 2024 this fell by nearly 14% to £24,839.93. Value per quarter ranged from £27,776.33 to £29,978.50 in 2023.
Common used electrical automobiles have plateaued on the finish of 2024 and into 2025, whereas gross sales reached file ranges in February, in accordance with trade stories.
The most recent knowledge from Marketcheck reveals that when taking a look at fiscal quarters, in 2023 the common final listed throughout 2023 for a used EV (excluding the primary quarter) was £28,843.61.
By 2024 this fell by nearly 14% to £24,839.93. Value per quarter ranged from £27,776.33 to £29,978.50 in 2023.
In 2024 the common final listed value ranged from £25,844.33 to £24,059.18.
Alastair Campbell, UK technique lead at Marketcheck, mentioned: “Our knowledge have revealed a major drop within the value of a used EV previous to July 2024. It now seems that could be over because the market worth has stabilised.
“Marketcheck will proceed to analyse any rising traits within the used UK automobile market.”
Over 6% market share for used EVs in February
In the meantime new knowledge from the most recent Indicata Market Watch report reveals used EVs accounted for six.3% of all used automobile gross sales in February.
Used BEVs comprised 8.5% of whole used vendor inventory shifting into early March, which is a file, however sellers are experiencing a steadiness between demand and provide which is giving them confidence to extend their zero emission automobile inventory ranges.
The used automobile trade has been ready for value stability and that appears to have arrived with used BEV costs altering between August 2024 and February 2025 inside a spread of simply 0.7%.
There is no such thing as a hiding the truth that used BEVs have fallen on common in worth by 40.9% since January 2023, which is 4 occasions the quantity used petrol vehicles have fallen by (9.5%) in the identical interval.
Nevertheless, Indicata is experiencing extra sellers seeking to purchase used BEVs from its MarketPlace wholesale platform as sellers construct their shares in response to rising client demand.
The £10-25,000 bracket is the present candy spot within the retail BEV market, which has stored costs sturdy whereas sellers stay cautious at stocking BEVs at greater than £50,000 which displays diminished client confidence at this value degree.
Dean Merritt, Indicata UK’s head of gross sales, defined: “The used BEV market continues to make child steps consistent with client and vendor confidence ranges.
“The elevated gross sales and value stability from our newest Indicata report confirms the muse is rising stronger for used EVs, which is optimistic information for all the trade.
“With no viable used market, new zero emission gross sales targets won’t be met.
“The wholesale and retail markets are actually extra consistent with each other as we transfer into spring and summer time which is one other transfer in the correct course.”
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