The retail used BEV sector in the UK is the most stable of the 13 major European countries, according to INDICATA UK.
Used BEV sales account for a 4.8% share of the UK market while zero emission cars account for 5.1% of used car stock on dealer forecourts, demonstrating an even matched between retail supply and demand.
Dean Merritt, INDICATA UK head of sales, said: “Residual value setters who shape attractive leasing rates will play a major part in helping OEMs reach next year’s ZEV mandate target where 28% of new cars must be battery electric.
“While they will not want to be too optimistic with residual values, new BEV discounts are likely to contribute to more affordable rates for all BEVs.
“The ZEV mandate will continue to have a significant influence on the used car market over the coming years and will push more BEVs into the used car market as new sales increase. If the blend of supply and demand continues in its current vein, we can see the used BEV market providing more stability during 2025.”
Denmark is the only other country in Europe that has a similar level of stability as BEVs take a 38.2% share of sales and a 31.5% share of dealer stock.
Most European countries are experiencing a major overstocking of used BEVs.
UK retail BEV prices rose again between October and November by 0.7%, and by 1.4% between August and November.
However, the price consistency does not make up for a 43% reduction in UK BEV retail prices and the residual value losses experienced since January 2023.
