Record used EV sales as UK market balances supply and demand

Used battery electric vehicle (BEV) sales hit a new high in early May, with demand continuing to strengthen and prices showing signs of rare stability, according to Indicata’s latest UK Market Watch report.

Retail sales of used BEVs climbed to 6.34% of total used car sales, up from 6.28% in April.

At the same time, BEVs maintained a record share of dealer stock, holding steady at 7.5%.

Indicata’s data also reveals that the UK remains one of just two European markets—alongside Denmark—where the ratio of used BEV sales to stock is balanced.

This parity is contributing to a more stable pricing environment, with used BEV values dropping just -0.7% in early May.

That marks only the second price fall in the segment over the past nine months, contrasting with other European markets where price cuts and incentives are being used to stimulate sales.

Dean Merritt, head of sales at Indicata UK, said: “Every dealer, fleet and OEM we speak to is closely monitoring the used BEV market.

"Right now, supply and demand are well-aligned, which is helping keep values steady—a positive sign for the whole industry.”

He added: “While it’s still unclear whether prices have reached a long-term equilibrium, this stability is giving asset owners more confidence when setting reserve prices at auction.”

The report also notes a minor shift in diesel trends.

Diesel-powered cars accounted for 27.1% of used car sales in early May, up 0.2% month-on-month, and still represent 27.9% of total dealer stock. In contrast, diesel makes up just 5% of new car registrations, highlighting the fuel type's ongoing relevance in the used market.

Indicata’s findings suggest the used BEV sector is entering a more mature phase, with improved price consistency likely to boost confidence across dealers, fleets and remarketing channels.