Press Release
INDICATA Market Watch report – Used BEVs and hybrids account for just 16% of Europe’s used car parc as market transitions into 2025
Just sixteen per cent of Europe’s used market was made up of hybrid and BEVs in December according to the latest INDICATA Market Watch report, split 10% hybrid and 6% BEVs.
Just sixteen per cent of Europe’s used market was made up of hybrid and BEVs in December according to the latest INDICATA Market Watch report, split 10% hybrid and 6% BEVs.
That grew to 27% in the sub-two years of age segment split 16% hybrid and 11% BEV which suggests more of an evolution than exponential growth in Europe in low or zero emission used cars.
New BEV registrations suffered a setback in December of -5.9% which Germany contributed to with a -38.6% monthly fall in sales. This temporary decline in new BEV sales provided a relief for the used BEV market and many dealers also used this opportunity to clear out their used car forecourts at year end of overage BEV stock.
The price behaviour, however, for battery electric vehicles is almost identical in most countries with the trend towards prices being adjusted to fuel demand. This move suggests dealers are still cautious about stocking used BEVs, although it has helped contribute to Market Day’s Supply moving closer together as dealers turn their used cars into cash.
The MDS metric measures the available stock against sales at the current run rate to determine how many selling days the available stock can cover. Moving into January the MDS of BEVS was at 94 days, mild hybrids at 85 days and plug-in hybrids 1 day behind at 84 days, while hybrid and petrol were at 72 days and not surprisingly diesel the lowest at 66 days.
Looking at the fastest-selling used cars up to four years old the Tesla Model Y and Model 3 lead the way across all powertrains and not surprisingly also make up the top two spaces of the BEV league table too. Meanwhile VW took all three places in the top-selling used car league with its Golf, T-Roc, and Polo while Toyota took all three spaces in the hybrid section with its C-HR, Yaris and Corolla.
“With demand for used BEVs remaining slow across Europe it will be interesting to see how Europe’s Q1 used market pans out as more used BEVs start to come back into the market. There are some big number used Teslas coming back into the market in a few countries in the first half of 2025 and it will be interesting to gauge their impact on used BEV sales and pricing as many vehicles will be exported to other markets,” said Andy Shields, INDICATA Global’s business unit director.