Prices for used battery electric vehicles (BEVs) could finally have bottomed out, according to Indicata.

Used BEV prices dropped by just 0.8% between July 2024 and January 2025

Used BEV prices dropped by just 0.8% in the last six months, according to its latest Market Watch used car pricing insights, falling by just £160 on a typical £20,000 used car.

Its January data also reveals that sales of used BEVs accounted for a 5.9% market share; a new record since the Indicata report launched five years ago.

And stock of used BEVs reached nearly 8% of all used cars for sale in UK dealerships at the end of January; the highest number on record.

A growing level of used BEV stock coming into the used market would normally create panic with fleet vendors and dealers alike, and cause a pricing correction, but a “very varied” mix of stock and price points is seen as unlikely to cause distress with dealers.

The data also shows 15% of the sub-two-year-old used cars in the market are now battery electric, while 10% of cars between three and four years of age are BEVs, which brings some stability to the entire used car sector, not just that of BEVs.

“Having seen monthly used BEV prices drop by between 5-10% in 2023, a price movement of just -0.8% between mid-2024 and January 2025 shows just how far demand and acceptance for used BEVs have come,” explained Dean Merrit, Indicata UK’s head of sales.

“The number of used BEVs coming into the market will continue to grow as OEMs aim to meet their ZEV mandate targets. But if the balance of supply and demand continues during 2025 and beyond, then it gives BEVs the stability they need to settle down and make their mark on the used market,” he added.