[ad_1]
The number of days it takes for used EVs to sell has dropped from 169 days to 69 days between January and early April.
That was the view of Indicata and the Used Car Market Watch report which stated that the decline was caused by a 19.9% decline in used car prices during this period.
In March EVs accounted for 2.96% of the used market, which was their highest share.
This is “very exciting news” for dealers as the price reduction has resulted in higher demand and sales and is a step in the right direction according to group sales director INDICATA UK Jon Mitchell.
“The fall in used EV prices has revived the market and has helped fleets and dealers divert some of their old stock.
“Dealers are prepared to buy used EVs now that prices have dropped due to less financial risk to their business.
“The used EV market is moving which is good news as is a new supply of scrap cars and swap parts arriving on the market after the March license plate change,” he added.
Despite the encouraging decline in market supply, EVs remain the second-hand power train model whose sales are slowing. 69 days supply on the market compared to petrol (40 days), diesel (43 days) and hybrid (49 days).
This suggests that further price reductions may be needed to meet fuel demand, especially in newer and more expensive used EVs.
The fastest selling used car in the UK during March was the all-electric Mercedes EQC, followed by the Dacia Duster and Kia Sportage.
The best-selling used car in the same period remained the Ford Fiesta followed by the VW Golf and Mercedes A Class.
The fastest selling used cars typically change monthly depending on current consumer demand, but the top sales table remains highly static with the Fiesta, Golf, A Class and Nissan Qashqai taking turns securing the top three positions,” Mitchell said. .
[ad_2]
Source link
