NEWS

INDICATA’s latest Market Watch report shows used BEV sales continuing to fall across Europe

Written by Autorola in category 
February 29, 2024

 

Used BEV sales continue to fall across Europe according to INDICATA’s latest Market Watch used car insights report, while Market Days’ Supply of BEVs is now double that of ICE cars.

Consumers appear to be looking to used hybrids as their first step towards zero emissions rather than moving directly from ICE to BEV.

 

Diesel sales continue to fall alongside BEV across Europe

 Diesel vehicles have fallen in market share across Europe, and now account for just 21.7% for vehicles under four years of age. At the same time, BEVs have also dropped in their market share and now make up 4.11% of the online used B2C used vehicle market.

 

Hybrid powertrains continue to increase in popularity

A rapid rise in the popularity of hybrid powertrains across European markets has seen this vehicle type rising to an all-time high of 15.29% of the used car market. Within this, the more traditional plug-in hybrid and hybrid electric vehicles remain the most popular but are closely followed by mild hybrid vehicle types.

 

It is reasoned that this rise in popularity is down to consumers wanting hybrid vehicles as an interim step before the adoption of pure battery electric vehicles, with buyers remaining unsure about transitioning to a purely battery-powered vehicle, without the aid of an internal combustion motor alongside it.

 

Petrol remains the fuel of choice for buyers

Petrol vehicles accounted for more than 44% of used vehicle sales in Europe in January, and have outperformed BEV and hybrids in value retention, remaining level with diesel in this regard. Petrol vehicles have seen a slightly longer Market Days’ Supply than diesels (67 and 65 days respectively) however these are outperforming BEV significantly by almost 50 days.

 

New car supply has returned to pre-pandemic levels

With the semiconductor shortage now over, and new vehicle sales returning to normal, the market has seen a return of manufacturer-backed tactical sales, with pre-registered and nearly new used-cars now re-entering the market in increasing volumes, with a more than 7% month on month rise having been observed.

 

Fastest and best-selling vehicles
January’s top selling vehicle (up to 4 years old) in Europe was the Volkswagen Golf, while the best-selling hybrid vehicle was the Ford Puma, and the best-selling BEV was the Renault Zoe. The fastest-selling vehicle overall was the Toyota Prius+ hybrid, followed by the ICE Opel Corsa, while the Opel Mokka X was the fastest selling BEV.



To read the full details of the report and learn more about each territory in depth, please view the latest Indicata report which is available now. https://www.indicata.com/marketwatch

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