Used car price parity is proving to be crucial in boosting dealer confidence in the battery electric vehicle (BEV) market, according to the latest Indicata Market Watch report.
By maintaining stable pricing rather than feeling pressured to discount, dealers are helping to drive greater retail demand for used BEVs, which is essential as more vehicles enter the market.
Against this backdrop, used BEV retail prices have shown early signs of recovery in 2025. Prices increased by 0.7% between late November 2024 and early January 2025, supported by a growing trend of price parity between many BEVs and internal combustion engine (ICE) cars.
While new BEVs secured a 19.6% market share in 2024 under the UK’s ZEV Mandate, used BEVs accounted for just 10% of the used market, highlighting the current gap between rising supply and consumer demand.
Indicata’s UK fastest-selling used car rankings were dominated by electrified models, with the Hyundai IONIQ taking the top spot, followed by the Mitsubishi Outlander and the Tesla Model 3.
“Any sign of stability for BEVs, such as a small price rise in the UK market, is positive, especially as the volume of used BEVs reaching the market is set to rise each month in 2025 and beyond,” said Dean Merritt, Indicata UK’s head of sales.