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Used EV demand increases as overall market values fall, Indicata reports

Date: 20 May 2022   |   Author: Sean Keywood

Used EVs are selling as quickly as petrol and diesel cars for the first time, according to analyst Indicata.

It said that the number of EV sales in April was up by 68% year=on-year, with the Kia Niro topping its chart of the fastest-selling models, and the Hyundai Ioniq in third place.

Overall, Indicata said the UK remained the only European country where used car prices were falling, with a 1.4% decrease seen during April.

It said total sales were up by 1.2% month-on-month, but down by 16.2% year-on-year, with the knock-on effects of the new car semiconductor crisis continuing to be felt.

Indicata UK group sales director Jon Mitchell said: "EVs are in such high demand that stock levels have fallen dramatically over the past few months. We have really noticed a step change in demand since the beginning of the year. 

"Prices are consistently high with our regular alternative fuel auction for Arval continuing to create strong bids. However, overall average prices have settled down and are back to the levels they started the year at."