Tesla fashions dominate greatest used automobile value drops in February

Tesla fashions dominated the highest 5 greatest used automobile value drops in February, in keeping with Motor’ Market View evaluation.

Whereas the most important drop of the month was truly the all-electric Mini hatchback (three to 4 years), down 5.6% to £14,249. However that was carefully adopted by the Tesla Mannequin 3 (three to 4 years) down 5.4% to £20,859 and Tesla Mannequin Y (two-three years) down 4.9% to £29,639.

Older variations of the Mannequin 3 (4 to 5 years) have been in fifth place, down 4.2% to £19,009.

The one combustion engine automobile within the prime 5 was the fourth positioned Vauxhall Grandland petrol (beneath one 12 months), down 4.8% to £21,421.

Continued value reductions have inspired sellers to develop their Tesla shares, up 4% MoM and 77% YoY.

Whereas the common value of used Teslas on Motors has now fallen 22% since February 2024 and was down 5% month-on-month (MoM).

Lucy Tugby, advertising and marketing director of Motors, stated: “Our Market View information reveals that ongoing value reductions have inspired extra sellers so as to add Teslas to their inventory combine.

“With Tesla Mannequin 3 costs averaging £20,300, these autos have gotten extra inexpensive for shoppers.

“We’ll carefully watch demand metrics as Tesla faces off in opposition to an rising variety of EV choices from each emergent and legacy manufacturers.”

General, common supplier inventory volumes in February have been down 8% MoM from 53 to 49 models, consistent with 50 models final 12 months.

The drop is on the again of sellers shifting to restock in time for January with automobile supermarkets down 12% MoM from 201 to 177 models and franchised sellers down 14% from 60 to 52 models.

Whereas independents remained unchanged at 37 models.

Common marketed costs realigned in February, down 1.2% (£222) to £17,685, having hit a 14-month peak of £17,907 in January, however up 3.7% (£632) year-on-year.

The drop was pushed by automobile supermarkets which have been down 1.4% MoM from £17,331 to £17,090, whereas franchised sellers have been up 0.8% MoM at £24,441 and independents elevated 1.1% to £12,799.

The largest downward value mover by gasoline kind was electrical which dropped 2% MoM from £25,683 to £25,177, a YoY fall of 13% from £28,829. Diesels have been down 1.3% to £15,012, adopted by hybrids down 1% to £25,072 and petrol dipped 0.9% to £16,833.

General, client demand was brisk with days to promote bettering MoM from 36 to 34.5, with franchised sellers attaining the quickest gross sales at simply 24 days.

Tugby stated: “February noticed sellers buying and selling by means of the inventories that they had inbuilt January, with consumers benefiting from some aggressive costs, as witnessed by sooner gross sales.

“These dynamics left many sellers effectively positioned for the March plate-change the place the inflow of trade-ins and half exchanges from the debut of the 25-plate will carry momentum into the second quarter.”