Electric vehicles are showing the biggest price drops, with a 2% MoM fall from £25,683 to £25,177 and a YoY fall of 13% from £28,829. Three Tesla models are included in the five biggest price falls in February, according to Motors Market View.
The biggest price drop was the all-electric MINI hatchback (3 to 4 years), down 5.6% to £14,249. The second biggest price drop was the Tesla Model 3 (3 to 4 years) down 5.4% to £20,859, followed by the Tesla Model Y (2-3 years) down 4.9% to £29,639, the Vauxhall Grandland (under 1 year) down 4.8% to £21,421, and the Tesla 3 (4 to 5 years) were in fifth position, down 4.2% to £19,009.
Lucy Tugby, marketing director of Motors, said: “Our Market View data shows that ongoing price reductions have encouraged more dealers to add Teslas to their stock mix. With Tesla Model 3 prices averaging £20,300, these vehicles are becoming more affordable for consumers.”
The average price of used Teslas has fallen 22% since February 2024 and was down 5% MoM.
Average dealer stock volumes in February were down 8% MoM from 53 to 49 units.
Car supermarket volumes were down 12% MoM from 201 to 177 units, franchised dealers down 14% from 60 to 52 units, and independents remained unchanged at 37 units.
Tugby said: “February saw dealers trading through the inventories they had built in January, with buyers benefiting from some competitive prices, as witnessed by faster sales.
“These dynamics left many dealers well placed for the March plate-change where the influx of trade-ins and part exchanges from the debut of the 25-plate will carry momentum into the second quarter.”
