New knowledge from cap hpi exhibits that solely 17% of impartial sellers stocked and marketed an electrical automobile final month, in response to cap hpi.

The figures rise to 43% for franchised sellers and 49% for automotive supermarkets.

Commenting on the information, Derren Martin, director of valuations at cap hpi, mentioned: “Our knowledge exhibits that many sellers appear reluctant to inventory EVs regardless of rising demand from customers. If the ZEV mandate is to work successfully, each new automotive wants a used purchaser later in life, and sellers have a task to play in constructing their native markets.

“At present costs, many used EVs symbolize nice worth to drivers towards new and a low complete value of possession. Our knowledge exhibits that many EVs are a terrific revenue alternative for sellers and have a tendency to promote rapidly from forecourts.”

The automotive knowledge consultants observe that some EV fashions stabilised or elevated barely in worth within the first quarter of the yr, though others have continued to fall in value, representing good worth for cash, significantly when in comparison with the equal petrol mannequin. In early April 2024, common values for EVs dropped by 2.2% on the three-year age level.

The amount of EVs will proceed to extend within the coming months, and plenty of fashions already seem very attractively priced

Total, purchaser demand within the used market for different gasoline varieties is again to historic seasonal ranges. Though a small variety of consumers stay selective, demand is significantly increased than it was a couple of months in the past. It’s anticipated to stay strong, particularly for fashions on the mid-to-lower finish of the value spectrum.