New report reveals EV and hybrid used market trends
22 November 2017
The number of used hybrid and electric vehicles (EVs) passing through auction halls has doubled in just over a year, according to the first Aston Barclay Used Market Insights report.
Hybrid vehicles and EVs accounted for 2% of total lots sold in the third quarter of this year, up from 1% in the first quarter of 2016.
The market share of pure petrol-engined models, meanwhile, dropped from 41% to 38%, while diesel grew from 58% to 60%.
It is a similar story in the fleet sector, with hybrid/EVs taking their market share from 2% in Q1 2016 to 3% in the third quarter of 2017. Petrol remained static at 21%, while diesel saw a slight reduction (down from 77% to 76%).
The average price of ex-fleet hybrid and electric cars hit £11,389 in the third quarter 2017 - a significant rise of £1,702 compared with the beginning of 2016 caused mainly by a more varied stock profile.
Martin Potter, group operations director at Aston Barclay, said: "These figures suggest that business users have been driven over recent years to take the tax-efficient option of hybrid/EVs instead of the traditional diesel option, although the overall numbers coming to auction still remain low.
"This is a trend we predict will continue across the business sector over the next few years."
Looking ahead to the fourth quarter of 2017, the firm expects a "consistent market" until Christmas, helped by the four-day window created before new year thanks to Christmas Day and Boxing Day falling on a Monday and Tuesday.
Looking into 2018, Potter added: "We expect January to start strongly with buyers looking to replenish stock after Christmas trading and we expect it to remain buoyant until the traditional Easter change.
"However, we will see an influx of volumes from the peak 2013-14 new registration period entering the used market during 2018 and this could put pressure on used prices."