Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
Some manufacturers are flooding the market with new and nearly new Electric Vehicles.
That’s the view of the National Association of Motor Auctions (NAMA) which said that the overall performance of BEVs remained consistent with previous months. It did not name particular brands.
It said generally the car market is seeing prices fall. Electric Vehicles (EVs) are showing resilience, with some exceptions in the small SUV sector. Dealers are adopting a more targeted stock approach in preparation for the anticipated positive bounce in January.
“There is a slight decline in Light Commercial Vehicles (LCV), primarily due to seasonality. Surprisingly, the large van sector has slowed down, possibly indicating maturity in the parcel and home delivery sector.
“Both the city and small van markets have seen a decline between July and October. Retail demand is down, and consumers are holding onto vehicles for longer periods, seeking better value for money.
“Certain manufacturers are flooding the market with new and nearly new Electric Vehicles. However, the overall performance of Battery Electric Vehicles (BEVs) remains consistent with previous months.
“Auction houses are continuing to witness a trend of price realignment, with a slight uptick in volume for November.
“Dealers are starting to adopt a targeted approach for stock, in anticipation of a positive bounce in the new year,” said Paul Hill, NAMA Advisor.