Used EV prices could finally have bottomed out after a period of sustained falls, according to Indicata.
The analysis company said the average used EV price had fallen by 0.8% between July 2024 and January 2025, equivalent to £160 on a £20,000 used car.
Indicata said the stabilisation had come at a crucial point for the industry, with EVs accounting for nearly 8% of used cars on sales at UK dealers in January, the highest level seen since Indicata began reporting the data five years ago.
The company also said EVs accounted for a record level of used car sales in January, at 5.9%.
It said that where a growing level of used BEV stock coming into the used market would normally create panic with fleet vendors and dealers and cause a pricing correction, currently the mix of stock and price points was very varied, which should not cause distress.
Indicata UK head of sales Dean Merritt said: “Having seen monthly used EV prices drop by between 5-10% in 2023, a price movement of just -0.8% between mid-2024 and January 2025 shows just how far demand and acceptance for used EVs have come.
“The number of used EVs coming into the market will continue to grow as OEMs aim to meet their ZEV mandate targets. But if the balance of supply and demand continues during 2025 and beyond then it gives BEVs the stability they need to settle down and make their mark on the used market.”
