INDICATA Market Watch 47 used car insights report executive summary

Our latest Market Watch used car insights report shows how used prices fell in all but one country during 2023.

Removing Turkey from the commentary Sweden and Poland saw used prices fall the least while two of the biggest European countries – Germany and the UK saw prices fall the most. It seems that prices are gradually moving back to where they were prior to the Covid pandemic causing chaos within the used car markets, some faster than others.

Despite a lot of press and political championing of BEVs, the tide seems to be turning, and the challenge is how much longer the used market can sustain the push from the new vehicle market.

With many countries offering tax breaks for buyers or drivers of new BEV vehicles but nothing for used BEVs, there would always be an imbalance between supply and demand.

The last two years have seen new BEV sales soaring, whilst in the used vehicle market, they have flatlined in most countries.

December 2023 was no different, with online B2C used BEVs accounting for just 4.52% of sales, virtually identical to the 4.55% it took in October. Ironically, whilst BEV sales stagnated, used diesel vehicle sales increased its market share by 0.8% month-on-month to 37.58%.

Used diesel vehicles remain the fastest-selling powertrain with 73 days of Market Days’ Supply (MDS) and 72 days for passenger cars.

Our latest report shows that the VW Golf is the top selling used car in Europe followed by the Renault Clio and VW Tiguan with the Renault Zoe currently ahead of the Tesla Model 3 in the top selling BEV sector.

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