The wholesale vehicle market performed well in June, with electric vehicle (EV) depreciation beginning to slow, according to the National Association of Motor Auctions (NAMA).
Overall, values across all vehicle types fell by 0.7% month-on-month, outperforming typical seasonal behaviour.
Petrol models saw the smallest decrease in values throughout June, down 0.4%, followed by hybrids with 0.5%.
EV depreciation slowed, with values down 1.8%, compared to the 2.8% drop seen in May.
Volumes for Teslas in particular have been high, with NAMA members reporting that retail consumer interest in newer EVs and plug-in hybrids has been high.
Paul Hill, spokesperson for NAMA, said: “The wholesale vehicle market continued to perform steadily through June, with conversion rates improving and pricing remaining relatively stable.
“While there are still some areas requiring close attention, such as EV values, the wholesale market remains in good shape. NAMA members are seeing strong buyer demand for quality vehicles, and we expect this trend to continue into July.”
The light commercial vehicle (LCV) market performed well, especially with internal combustion (ICE) vans.
NAMA reported strong demand for well graded commercial vehicles, as well as increased interest in newer, longer-range electric van models, despite some general challenges with electric van sales.
