Sales of used BEVs hit a record high in May according to the latest Indicata UK Market Watch used car insights report.
Used BEV sales accounted for 6.34% of total retail used car sales up from 6.28% in early April, while BEVs as a percentage of total dealer retail stock remained at a record high of 7.5%.
The UK remains the only other country in Europe alongside Denmark where the balance of used BEV sales and stock are comparable with one another.
The result is price stability, with the UK experiencing a used BEV price fall of -0.7% in early May, only the second fall in the past nine months. Prices had suffered huge falls over the past two years.
Dean Merritt, Indicata UK’s head of sales said: “Every dealer, fleet or OEM that we talk to that uses our data is interested in how used BEVs are performing.
“At the moment is supply and demand are evenly matched which is helping keep prices stable which is good news for the entire industry.
“Whether prices have finally found their level yet we are still not sure, but stability is giving asset owners greater peace of mind when setting reserve prices at auction,” he added.
