Aston Barclay sees ‘growing demand’ for EVs as prices fall

Dealers are increasing their used EV stock as some cars become cheaper than their equivalent used ICE models.

That’s the view of auction house Aston Barclay, which said its September used EV desirability index saw sales of lower value used EVs at between £8-15,000 increase at auction, as dealers responded to the “growing demand” from consumers based on affordability.

Eight out of the top 15 places in Aston Barclay’s September desirability list were taken up by two cars each from MG, Tesla, Kia and BMW with the respective MG4 and 5, Model 3 and Model Y, EV6 and eNiro and the iX1 and i3.

However, only the BMW iX1 in first place, the Porsche Taycan in second place and the Mercedes EQC in 15^th place represented used cars of over £30,000, with the rest at the value end of the market.

“The last five or six weeks have seen an improvement in used EV sales and we hope this continues over the coming weeks and months.

“Many prices have stabilised as dealers begin to understand just how good value used EVs are.

Some EVs are now cheaper than equivalent ICE cars which is bringing consumers into the dealership and building enquiry levels,” said Nick Thompson, Aston Barclay’s chief customer officer.

“The sector isn’t out of the woods yet but small improvements in all key dynamics of supply and demand are visible as we move into Q4,” he added.

Aston Barclay’s monthly desirability index takes into consideration three key metrics: web views prior to sale, number of physical and online sale bids, and sale price achieved as a percentage of CAP average.