Motorway’s Inside Track Report: Analysis of Used Car Sold Prices in Q2
Are you in the market for a used car? If so, you’ll want to pay attention to the latest analysis of used car sold prices provided by Motorway in their quarterly Inside Track report. This report offers valuable insights into the trends and changes in the used car market, based on data from sales on their online marketplace.
One of the key findings from the report is the increasing demand for used hybrid vehicles. With concerns about electric vehicle supply changes, charging infrastructure, and market uncertainty, more consumers are turning to hybrid cars as a more sustainable option. In fact, the average sold prices of used hybrid vehicles rose by 2.9% in the second quarter.
On the other hand, the average sold prices of used fully electric vehicles dropped by 8.1% during the same period. This reflects the challenges in the market, including supply changes and consumer uncertainty. With a new government in place, there is a call for more focus on building and maintaining an EV infrastructure to reassure buyers and make lower emission motoring more accessible to all.
Despite the challenges, there is a clear consumer desire for lower-emission vehicles. Research by Motorway shows that 8-in-10 Brits are willing to pay a premium for a used EV, with affordability, sustainability, and lower prices compared to new vehicles being key factors driving consumer interest.
However, concerns about battery life, range anxiety, charging infrastructure, and vehicle maintenance remain top of mind for potential buyers. To address these concerns, consumers are calling for more investment in EV infrastructure, grants for buyers, and tax breaks for manufacturers to make EVs more affordable.
Overall, the Inside Track report provides valuable insights into the changing landscape of the used car market. Whether you’re in the market for a hybrid, electric, or traditional petrol or diesel vehicle, staying informed about pricing trends and consumer preferences can help you make a more informed decision when buying a used car.