Aston Barclay has seen volume of used hybrid and electric vehicles going through its auctions double in just over a 12 month period.
Aston Barclay’s first Used Market Insights report shows ultra-low emission vehicles taking their market share in the fleet sector from 2% in Q1 2016 to 3% in the third quarter of 2017.
Petrol remained static at 21% while diesel saw a slight reduction (down from 77% to 76%).
The average price of ex-fleet hybrid and electric cars hit £11,389 in the third quarter 2017 – a significant rise of £1,702 compared to the beginning of 2016 caused mainly by a more varied stock profile.
Average mileages also rose dramatically in Q3 17 to 67,615 miles from 61,696 in Q1 2016 which reinforces they are being used by company motorists as daily workhorses. This is higher than the average diesel and petrol mileage at 58,803 and 28,468 miles respectively.
Martin Potter, group operations director at Aston Barclay, said: “These figures suggest business users have been driven over recent years to take the tax-efficient option of hybrid/EVs instead of the traditional diesel option, although the overall numbers coming to auction still remain low.
“This is a trend we predict will continue across the business sector over the next few years.”
Looking at the general market, the average selling price at Aston Barclay during Q3 remained static, with the market absorbing the increase in volume generated by ex-PCP stock being returned.
The average price in Q3 2017 was £6,947 – just £25 down year on year. Average mileage was higher – 63,311 versus 61,168 while average age increased from 70.4 to 72.0 months across the total market.
Looking ahead to the fourth quarter of 2017, it expects a ‘consistent market’ until Christmas, helped by the four-day window created before new year thanks to Christmas Day and Boxing Day falling on a Monday and Tuesday.
Looking to 2018, Potter added: “We expect January to start strongly with buyers looking to replenish stock after Christmas trading and we expect it to remain buoyant until the traditional Easter change.
“However, we will see an influx of volumes from the peak 2013-14 new registration period entering the used market during 2018 and this could put pressure on used prices.”