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 doing this, but it noted that the overall performance of BEVs has remained consistent with previous months.

The car market as a whole is experiencing a decline in prices, but EVs are showing resilience, except for some small SUVs. Dealers are adjusting their stock approach in preparation for an expected increase in demand in January.

NAMA also observed a slight decline in Light Commercial Vehicles (LCV), likely due to seasonality. The large van sector has slowed down, which could indicate 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, looking for better value for money.

While certain manufacturers are flooding the market with new and nearly new EVs, the overall performance of Battery Electric Vehicles (BEVs) remains consistent. Auction houses have noticed a trend of price realignment, with a slight increase in volume for November. Dealers are now adopting a more targeted approach to stock in anticipation of a positive bounce in the new year, according to Paul Hill, NAMA Advisor.

FutureCar Staff