Fleet operators and leasing decision-makers looking to defleet battery-electric vehicles (BEVs) can do so with growing confidence, according to figures from auto data provider Cazana.
Driven by steady buyer demand and sustained high fuel prices at the pump, used electric vehicle values at the benchmark 3-year defleet point surged by 1.6% in July, marking the fourth consecutive month of price increases and rising nearly 7% or approximately £1,500 per vehicle since March.
While petrol and diesel models dipped slightly by 0.1% and hybrids dropped 0.3% in July, the strong performance of electric vehicles effectively prevented average used market drops, providing a vital lift to total cost of ownership (TCO) profiles for commercial fleets, the company said.
According to Cazana, used car market appetite for ex-company cars remains buoyant, with core fleet EVs dominating the list of fastest-selling used vehicles. Key corporate models including the Peugeot 208 Electric, Mercedes-Benz EQB, VW ID.4, and Tesla Model Y are all being retailed within 14 days.
Derren Martin, automotive expert at Cazana, said:
“Once again, the main story is electric vehicles, which continue to increase in price and sell quickly. With petrol and diesel prices at the pump remaining high as events in the Middle East remain volatile, more and more dealers and consumers are taking the plunge for EVs.
“The used car retail market in July remained stable for the second month in a row, after seeing prices increasing before June. This should certainly be seen as a positive for the time of year, with multiple distractions for the consumer, including school holidays, hot weather, and the World Cup. With trade values dropping slightly, margins are being maintained overall.
“Hatchbacks once again hit the sweet spot over the last month, maintaining their position as a solid choice for dealers to fill their forecourts with. Looking at the next few weeks, it will be interesting to see if demand drops as the school holidays continue. “With volumes on forecourts increasing, it doesn’t seem likely that prices will rise overall, but they should remain relatively stable.”
Image courtesy of Green Car Guide
