Carmakers' Abundance of Electric Vehicles

author: FutureCar Staff    

According to the National Association of Motor Auctions (NAMA), some car manufacturers are flooding the market with new and nearly new Electric Vehicles (EVs). The overall performance of BEVs has remained consistent with previous months, although NAMA did not specify which brands were involved.

In general, the car market is experiencing falling prices, but EVs are showing resilience, except in the small SUV sector. Dealers are adjusting their stock approach in preparation for an expected increase in demand in January.

NAMA also noted a slight decline in Light Commercial Vehicles (LCV), primarily due to seasonal factors. The large van sector has also slowed down, which could indicate a maturity in the parcel and home delivery industry.

Both the city and small van markets have seen a decline between July and October. Retail demand is down, and consumers are holding onto their vehicles for longer periods in search of better value for money.

Despite this, certain manufacturers are flooding the market with new and nearly new EVs. However, the overall performance of BEVs remains consistent with previous months.

Auction houses have observed a trend of price realignment, with a slight increase in volume for November. Dealers are now adopting a more targeted approach to their stock in anticipation of a positive bounce in the new year, according to Paul Hill, NAMA Advisor.

FutureCar Staff