Carmakers saturating 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). The overall performance of EVs has remained consistent with previous months, although NAMA did not specify which brands are contributing to this trend.

The car market as a whole 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 anticipated positive bounce in January.

While there is a slight decline in Light Commercial Vehicles (LCV), mainly due to seasonality, the large van sector has slowed down. This could indicate maturity in the parcel and home delivery sector. Both the city and small van markets have seen a decline between July and October, with retail demand down as 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) remains consistent with previous months. Auction houses are observing a trend of price realignment, with a slight increase in volume for November. Dealers are now adopting a targeted approach to stock in anticipation of a positive bounce in the new year, according to Paul Hill, NAMA Advisor.

FutureCar Staff