Retail costs of used BEVs confirmed “signs of recovery” in early 2025 in accordance with the most recent INDICATA Market Watch report.
It mentioned costs rose by 0.7% between the top of November 2024 and early January 2025, fuelled by worth parity on many BEVs and ICE automobiles.
It added that used automobile worth parity is necessary because it provides sellers extra confidence to face by their pricing slightly than really feel pressured to decrease costs to generate gross sales.
This can play an enormous half within the BEVs gaining a foothold within the UK used market by fuelling elevated retail demand to deal with a rising degree of used BEVs coming into the market.
The UK’s ZEV Mandate noticed new BEV gross sales obtain 19.6% market share in 2024, whereas gross sales of used BEVs solely reached 10% market share in the identical interval which reveals the dimensions of the present hole between future used BEV provide and present used BEV demand.
Used BEVs and hybrids took all three locations in INDICATA’s UK fastest-selling used automobile desk with the Hyundai IONIQ main the way in which, adopted by the Mitsubishi Outlander and the Tesla Mannequin 3 in third place.
“Any sign of stability for BEVs, such as a small price rise in the UK market is positive especially as the volume of used BEVs reaching the used market is set to rise each month in 2025 and beyond,” mentioned Dean Merritt, INDICATA UK’s head of gross sales.
