Used EV prices have stabilised – Indicata Market Watch
Used EV prices have stabilised after a period of dramatic decreases, according to the latest Indicata Market Watch.
It found that prices dropped by an average of just 0.8% in the six months between July 2024 and January 2025.
This comes after monthly falls in used EV values of between five and 10% during 2023.
The report suggests that settling used EV prices highlights growing consumer demand, with used EVs accounting for a record 5.9% share of the total used market in January. Meanwhile, used EVs accounted for nearly eight per cent of all used cars for sale in UK dealerships at the end of January, also the highest number on record. That figure was 15% in the sub-two-year category and 10% in car between three and four years of age.
Demand for used EVs
Dean Merrit, Indicata UK’s head of sales, said: “Having seen monthly used BEV 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 BEVs have come.
“The number of used BEVs coming into the market will continue to grow as OEMs aim to meet their Zero Emissions 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.”
