Falling prices sees demand for hybrids rise
Falling prices have seen demand for hybrids continue to increase, according to the latest Indicata Market Watch report.
It found that prices for mild hybrids have come down by 2.5% since the summer, driving up sales to a 10.5% share of all used car sales in October.
Meanwhile, plug-in hybrids accounted for 5.5% of all used car sales last month and hybrids made up 7.1%.
But despite rising sales, stock levels have continued to increase with hybrids accounting for a record 11.9% of all used cars available.
Meanwhile, the average prices of used electric vehicles rose by 0.9%, with sales accounting for seven per cent of the used car market.
Strong sales
Dean Merritt, Indicata UK’s head of sales, said: “Hybrid sales across the board have been strong all year as have prices, but the real test will be how the market copes with the increased volume of used cars coming back from lease, personal finance and salary sacrifice contracts.
“If demand continues to increase in line with this increase in supply, then prices should remain consistently strong, but prices may come under pressure.”
He added: “Dealers are buying more used electric vehicles from our wholesale MarketPlace online portal than ever before as they sell more zero emission cars to consumers more quickly.
“This activation of the wholesale and retail sales ecosystem is what we have been waiting for to help used electric vehicles stake a long-term claim in the overall used market.”
