European used EV/hybrid stock levels rise while diesel stocks fall
The increased number of new hybrid and EV cars registered over the past few years is now flowing through into the used car market according to the latest market insights data from Indicata for the five largest European countries plus Belgium.
Stock levels of hybrids have jumped 72% in the last twelve months whilst EV stock levels have more than doubled, jumping 220% although both are seeing longer stocking days as demand fails to keep up with supply.
Used diesels/petrol demand outweighs EVs/hybrids
When combining Indicata sales and stock data there is good EV and hybrid availability, but demand remains strongest for the traditional internal combustion engine.
Data from October 2018 to September 2019 shows online B2C used car stock levels are up 4.9% across all powertrains in September 2019 compared to the same period last year.
Dealers de-stock used diesels at a fast rate
Dealers appear to be de-stocking used diesel cars at a faster rate than demand is changing, but diesel remains the fastest selling powertrain. Used petrol car stock has also risen by 14% as dealers move away from used diesels.
Used car prices and demand for used diesels is still relatively strong according to Indicata, however, dealer stock levels are down 7.5% in September 2019 compared with 2018.
Petrol accounts for 51.6% of used stock
Used diesel cars now comprise just 43.8% of online B2C used car stock, versus 49.7% 12 months ago while used petrol car stock now accounts for 51.6% of Europe’s total used stock.
While it may seem a logical move for dealers to de-stock used diesel cars the reality is there are only enough used diesel cars to cover 58.9 days of demand at current run rates compared to 63.1 days of used petrol cars.