Seasonal changes as well as some exogenous shocks led to shifts in the narrative as we put a bow on the third quarter. However, the underlying uncertainty caused by high demand and limited supply remains.
In somewhat of a surprise move, we saw inventory levels increase in September with the Vehicle Availability Index reading 82.3, an increase of 4.7% from August. However, this was likely caused by both a cyclical decline in used sales in September as well as the petrol shortage at the end of the month, which could have caused consumers to delay purchases.
Electric vehicle residual values are tricky things to predict. Continual advances in the technology and the rapid escalation of new models means second-hand examples can become an unknown quantity and much harder to value than established petrol and diesel equivalents.
For lack of a time-honoured structure, dealers need to make sure they’re buying and selling used EVs for the right money. We explain how you can stay one step ahead of the plug-in pricing game.