Mild hybrid used automobile sales reached a record share in October as a drop in prices because the summer boosted demand, in line with Indicata’s latest Market Watch report.
Indicata reports that mild hybrids accounted for 10.5% of all used automobile sales in October, supported by strong performers resembling the Ford Puma.
The fuel type now sells at almost double the speed of plug in hybrids, which took a 5.5% share, and one third greater than full hybrids at 7.1%.
Despite the record sales, stock levels of mild hybrids continued to rise. In the beginning of November they accounted for 11.9% of all used cars available by fuel type, one other record high.
Dean Merritt, Indicata UK head of sales, said: “Hybrid sales across the board have been strong all 12 months as have prices, but the true test can be how the market copes with the increased volume of used cars getting back from lease, personal finance and salary sacrifice contracts.
“If demand continues to extend in step with this increase in supply, then prices should remain consistently strong, but prices may come under pressure.”
Used EVs were the one fuel type to record a price increase in October and early November.
Indicata said values rose by 0.9%, driven by strong wholesale and retail demand as dealers increased EV stock and more buyers opted for zero emission models.
EV sales held regular at just over 7% of all used automobile transactions by fuel type. Lower stock levels helped support prices as demand remained healthy.
Merritt added: “Dealers are buying more used EVs from our wholesale MarketPlace online portal than ever before as they sell more zero emission cars to consumers more quickly.
“This activation of the wholesale and retail sales ecosystem is what we’ve been waiting for to assist used EVs stake an extended term claim in the general used market.”
This Article First Appeared At www.am-online.com
