Used battery electric vehicle (BEV) prices could finally have bottomed out in accordance with the newest Indicata Market Watch used automotive pricing insights report.
BEV prices have moved by just 0.8% between July 2024 and January 2025 which translates to only £160 on a typical £20,000 used automotive.
This comes as sales of used BEVs accounted for a 5.9% share of the whole used market in January, which is a record for the reason that Indicata report was launched five years ago.
The trend of stable prices and growing sales comes at an important time for the industry as stock of used BEVs reached nearly 8% of all used cars on the market in UK dealerships at the tip of January, the very best number on record.
A growing level of used BEV stock coming into the used market would normally create panic with fleet vendors and dealers alike and cause a pricing correction, but Indicata said that currently the combination of stock and price points are “very varied which shouldn’t cause distress with dealers”.
Fifteen percent of the sub-two-year-old used cars out there at the moment are battery electric, while 10% of cars between three and 4 years of age are BEVs, which brings some stability to your complete used automotive sector not only that of BEVs.
“Having seen monthly used BEV prices drop by between 5-10% in 2023, a price movement of just -0.8% between mid-2024 and January 2025 shows just how far demand and acceptance for used BEVs have come,” explained Dean Merrit, Indicata UK’s head of sales.
“The variety of used BEVs coming into the market will proceed to grow as OEMs aim to fulfill their Zero Emissions Mandate targets. But when the balance of supply and demand continues during 2025 and beyond then it gives BEVs the soundness they should cool down and make their mark on the used market,” he added.
This Article First Appeared At www.am-online.com
