Press release
Sales of used BEVs begin to rise in Europe according to INDICATA’s latest Market Watch report
Used BEVs accounted for a record share of sales in the thirteen countries where the Market Watch report is published in June.
Used BEVs accounted for a record share of sales in the thirteen countries where the Market Watch report is published in June.
Sales accounted for 5.51% of the passenger car market against 42.6% for petrol, 35.1% for diesel and 16.9% for hybrids.
At the up to four-year old age range BEV’s market share rose further to 8.8% and up to two years of age rose to 10.7% helped by the manufacturer-backed tactical sales that have been focused on growing BEV registrations.
On the back of growing sales Market Days’ Supply for used BEVs has fallen from 105 days in May to 92 days in June. This means there is only enough online B2C used vehicle stock to meet 92 days at the current sales run rate.
Much of this rise in demand for used BEVs is based on pricing continuing to fall and on many used BEVs reaching price parity with their equivalent model ICE car. Used BEV prices fell overall in Europe by 30.2% between January 2023 and July 2024.
The top-selling used BEV in June was the Tesla Model 3 followed by the Renault Zoe and VW ID.3, while the fastest-selling used BEVs were the Opel/Vauxhall Mokka X, the Tesla Model 3 and Opel/Vauxhall Corsa.
Sales, prices, demand and stocking days differ from one country to the next but overall consumer demand seems to be gradually rising based on prices falling into line with ICE or in some cases falling below ICE prices.