Carmakers inundating market with fresh 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). NAMA did not specify which brands are guilty of this practice, but it noted that the overall performance of BEVs has remained consistent with previous months.

The car market as a whole is experiencing falling prices, but EVs are showing resilience, except for the small SUV sector where there have been some exceptions. Dealers are adjusting their stock approach in anticipation of a positive bounce in January.

The decline in Light Commercial Vehicles (LCV) is primarily due to seasonality, while the large van sector has slowed down, possibly indicating saturation in the parcel and home delivery sector. Both the city and small van markets have seen a decline between July and October, as retail demand decreases and consumers hold onto their vehicles for longer periods in search of better value for money.

Despite the flood of new and nearly new EVs from certain manufacturers, the overall performance of Battery Electric Vehicles (BEVs) has remained consistent. Auction houses have observed a trend of price realignment, with a slight increase in volume for November. Dealers are now adopting a more targeted stock approach in preparation for a positive bounce in the new year, according to Paul Hill, NAMA Advisor.

FutureCar Staff