The latest INDICATA Market Watch report indicates a stabilisation in used battery-electric vehicle (BEV) prices, with models such as the Tesla Model 3 leading the trend.
The average prices of the used BEV were 0.44pp low in the early days of October compared to the beginning of September, indicating a potential shift in the market.
Go deeper with GlobalData
This marks the third month in a row without an accelerated decline in average BEV prices, suggesting that the market for these vehicles may be finding its footing.
The Tesla Model 3 stands out in the European market, not only as the top-selling BEV by volume but also as the fastest-selling vehicle across all powertrains. It has a Market Days Supply (MDS) of 30.9 days.
With an MDS of only 22.5 days, the Opel/Vauxhall Corsais is the quickest-selling BEV powertrain. It is outperforming its traditional powertrain counterpart, which has an MDS of 34.1 days, according to the report.
INDICATA global business unit director Andy Shields said: “After months of turmoil used BEVs could finally be settling down much to the relief of many large leasing companies, dealer groups, OEMs and banks who have suffered at the hands of falling prices over the past 12 months.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“That may have all changed with used BEV prices in some countries rising in September, while others have stabilised and stopped falling. Tesla seems to remain as the aspirational used BEV brand across Europe with both the Model 3 and Model Y while the ageing but affordable BMW i3 and Renault Zoe are also both in strong demand.”
The report further highlights that in four out of 13 countries analysed, BEVs comprised the top three fastest-selling used cars last month.
