The June EV desirability index showed that dealers are generally buying the lower value used models with the Renault Zoe and Nissan LEAF achieving the top two places.
Aston Barclay said that the Tesla’s Model 3 and the Renault Zoe were also placed one and two in the overall desirability index.
The general rule of thumb, excluding the Model 3, is that dealers are proactively buying used EVs below £20,000 particularly at Aston Barclay’s fortnightly EV auction at Donington.
Aston Barclay has seen EV prices begin to settle down in April and May with prices falling by -4.8% (£1,087) to an average of £21,342 at 30 months and 20,741 miles.
This compares with average used EV prices during Q1 of £22,429 at 30 months and 21,135 miles. However, while prices are now much lower than their peak of £31,378 in Q3 2022 the market fall has slowed down and Aston Barclay said there is renewed hope they are now finding their ‘new normal’ in the market.
“This year has certainly seen used EV prices start to stabilise and used car dealers have responded with more bids and higher conversion rates,” said Nick Thompson, Aston Barclay’s director of sales.
“While the price reductions announced by Tesla haven’t been widely popular in the industry it has made the Model 3 more affordable to second-hand buyers which has fuelled demand. It’s early days and there is still a degree of caution from dealers around EVs, but it has been a positive start to the summer.”