Used EV stocks have increased as demand and prices have fallen. Our latest INDICATA Market Watch report provides the latest used EV insights.
INDICATA used car insights report shares Europe’s used car market trends for 13 countries and we have shared some of the highlights from this month’s report.
Used petrol cars are now Europe’s most wanted as demand for Battery Electric Vehicles (BEVs) has dramatically fallen. Used EV stock is now double what it was six months ago. Market Days’ Supply for used BEVs has risen from 53 to 118 days during that period.
- Used BEV prices have fallen by an average of 9.5 percentage points according to our latest INDICATA Market Watch used car insights report.
- Some brands have had real challenges with an oversupply of used stock, particularly where their new BEV sales have relied heavily on just one model, such as Tesla with its Model 3. This saw stock levels rise sharply but some downward pricing action seems to have stabilised the situation and reignited sales.
- Portuguese used prices have increased the highest at 11.6% (outside of Turkey) while the UK market continues to be the only one in Europe to report a price fall (-2.6%).
- The cost of living crisis has contributed to 11 out of the 13 countries in our report experiencing falls in used car prices in January. Only Turkey and Poland reported monthly price increases.
- VW’s Golf has retained its position as Europe’s best selling used car followed by the Renault Clio and VW Tiguan while Opel/Vauxhall secured all three positions in the fastest-selling used car stakes with its Astra, Grandland X and Crossland X.
- The Tesla 3 remains Europe’s top selling used BEV while the Tesla Model Y is the fastest-selling BEV.
Read more about the used market trends in 13 European countries at www.indicata.com