Retail prices of used BEVs showed “signs of recovery” in early 2025 according to the latest INDICATA Market Watch report.
It said prices rose by 0.7% between the end of November 2024 and early January 2025, fuelled by price parity on many BEVs and ICE cars.
It added that used car price parity is important as it gives dealers more confidence to stand by their pricing rather than feel forced to lower prices to generate sales.
This will play a big part in the BEVs gaining a foothold in the UK used market by fuelling increased retail demand to cope with a growing level of used BEVs coming into the market.
The UK’s ZEV Mandate saw new BEV sales achieve 19.6% market share in 2024, while sales of used BEVs only reached 10% market share in the same period which shows the size of the current gap between future used BEV supply and current used BEV demand.
Used BEVs and hybrids took all three places in INDICATA’s UK fastest-selling used car table with the Hyundai IONIQ leading the way, followed by the Mitsubishi Outlander and the Tesla Model 3 in third place.
“Any sign of stability for BEVs, such as a small price rise in the UK market is positive especially as the volume of used BEVs reaching the used market is set to rise each month in 2025 and beyond,” said Dean Merritt, INDICATA UK’s head of sales.
