THE latest Indicata Market Watch report has good news on the performance of electric cars at used car retailers: EVs reached a record level in February accounting for 6.29% of all used cars sold through UK dealerships.
While the RVs of electric vehicles have been nothing short of catastrophic, with average values dropping nearly 41% since January 2023, it does appear that RV stability is arriving with prices changing between August 2024 and February 2025 within a range of just 0.7%.
What’s more, there are record levels of used EV stock coming into the market so stability is arriving at the right time, believes Indicata.
Used EVs comprised a record 8.5% of total used dealer stock moving into early March, but dealers are experiencing a welcome balance between demand and supply which is giving them confidence to increase their zero emission car stock levels.
According to Indicata, the £10-25,000 bracket is the current sweet spot in the retail EV market, which has kept prices strong while dealers remain cautious at stocking EVs at more than £50,000 which reflects reduced consumer confidence at this price level.
“The used EV market continues to make baby steps in line with consumer and dealer confidence levels. The increased sales and price stability from our latest Indicata report confirms the foundation is growing stronger for used EVs, which is positive news for the entire industry. Without a viable used market new zero emission sales targets will not be met,” explained Dean Merritt, Indicata UK’s Head of Sales (pictured above).
“The wholesale and retail markets are now more in line with one another as we move into spring and summer which is another move in the right direction,” he added.
Automotive and fleet writer for Broker News
