Used EVs sold at auction are currently outperforming other fuel types according to multiple metrics, BCA has said.
The remarketing company said that so far in August EVs had the highest first-time conversion rate of any fuel type, as well as the strongest Cap performance.
BCA said that used EV demand did not appear to have weakened since the announcement of the UK Government’s new Electric Car Grant, which prompted some concerns about residual values. It added that industry guide live pricing had reversed moves for three-year old/60,000-mile EV product last week, to reflect momentum seen in the market.
BCA COO Stuart Pearson said: “BCA’s inventory levels remain healthy for the summer months – we continue to sell more than 1,000 used EVs every week, so supply issues are not driving the daily strong price performance we are seeing in this sector.
“Many motor trade buyers have realised both the incredible value and the profit opportunity that many EVs represent, given the growing acceptance from consumers for electric vehicles.”
