Car makers’ EV registration strategy could impact used prices

Tactical EV registrations by manufacturers could impact used prices and increase demand, according to INDICATA UK’s latest insights report.

“The used market continues to show more of an appetite for used EVs and hybrids, even if it is for the lower priced models. We are starting to see more tactical-based registrations from manufacturers for new EVs which could undermine used prices and bring them down even further in the next few months. This could drive further sales both in the wholesale and consumer market,” said Jon Mitchell, INDICATA UK’s group sales director.

The top three fastest-selling used cars in the UK were all EVs and hybrids for the very first time in October and November with the Toyota Prius topping the table of the UK’s fastest-selling used cars under four years of age closely followed by the Tesla Model Y and Renault Zoe.