Video by RSymons RSEV via YouTube
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End of February 2024 update (including end of January as we missed that one, sorry!)
I run through how the used car market is for used Electric Vehicles. Not just my own opinions but giving statistics from Autotrader Market insights.
There have been price drops over the last couple of months (not just with EVs but across a lot of the used car market) but actually I think they’ve steadied off now and restocking hasn’t been too easy. Sales have been pretty good and were low on stock right now. Buying stock has needed some serious hunting and paying fairly strong prices.
How has the new Tesla Model 3 highland affected the market in particular? Well actually as they are being somewhat trickled out it hasn’t caused too much disturbance. 2021 refresh cars with heat pump are certainly in demand now they can be found for under £30,000. I think they’re great value now. Porsche Taycans and used Audi e-tron also amazing value for buyers, albeit painful depreciation for owners needing to sell. Trouble with such cars is they make a lot of sense new for many of their buyers because of the tax benefits when buying through a business, but this has led to big drops on the used market.
I think many people have decided not to sell because their cars values have dropped.
But the key data here is that demand for EVs / Electric Vehicles is good!
I hope this gives an honest insight and if you need to sell your EV please get in touch. We will consider buying but can also offer a brokerage service which is a great way to get the most for your car and usually returns much more that trade values.
Thanks for watching.
Richard Symons
R Symons LTD "RSEV"
EV Specialist based in New Milton, Hampshire on the South Coast near Southampton and Bournemouth
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