Press Release
Sales of used BEVs continue to rise against a background of a fall in prices reports Indicata
Sales of used BEVs rose by a further 0.5% moving into June following a second price fall in the past two months according to Indicata UK’s latest insights report.
- Sales of used BEVs rise to new record.
- Are dealers having to reduce used prices to force sales?
- Fleets/dealers keep a close eye on used BEV trends for fear prices could start falling again.
- UK is the fourth largest used BEV sales country in Europe.
Sales of used BEVs rose by a further 0.5% moving into June following a second price fall in the past two months according to Indicata UK’s latest insights report.
Sales of used BEVs rose to another new record of 6.43% of all used cars sold in the UK in May, helped by prices falling by another 0.7%.
That totals a 1.4% price fall in April, May and into early June, and the question is whether dealers are reducing prices to force sales which could de-stabilise the market?
The used BEV stock in the market remained at 7.5% of all fuel types and the Market Day’s Supply (MDS) fell from 61 days to 55 days at the beginning of June. That means the MDS is now very close to all other fuel types except petrol at 47 days which remains the most popular fuel type.
Market Days’ Supply is derived from dividing the current supply of inventory by the average daily retail sales rate over the past 45 days, and the fall reinforces a good combination of demand and supply currently.
Indicata’s most popular used cars list hasn’t changed much in the past month with the Vauxhall Corsa at the top and the Ford Puma in second place, but Kia’s Sportage popularity as a new car is now translating into the used market as it secured third place.
Overall, the UK sales of BEVs at 6.43% is the fourth largest in Europe after Sweden, Portugal and The Netherlands and neck and neck with Germany, however their prices have held up much better than the UK over the past 18 months.
“These are only very small changes in the used BEV market, but all fleet vendors and dealers are keeping a close eye on their every move for fear that prices could start falling again,” explained Neil Frost, Autorola UK’s managing director.
“There is no doubt that we are getting more enquiries from our 2,000 active buyers to source BEVs and are slowly selling more zero emission vehicles. However, we can still detect a nervousness across the entire wholesale market about stocking too many BEVs or stocking the wrong type for fear of them being stuck on their forecourts unsold,” he added.