Gross sales of used diesel vehicles as much as 4 years outdated may quickly rally following Rishi Sunak’s delay on banning new ICE automotive gross sales till 2035.

INDICATA’s newest Market Watch report noticed used diesel automotive gross sales fall to a document low in August – accounting for simply 16.1% of vehicles offered – whereas used petrol gross sales rose to 54.6% and hybrids and BEVs comprised 22.5% and 6.6% respectively.

Nevertheless, INDICATA UK group gross sales director Jon Mitchell expects the Prime Minister’s announcement to inject new life into diesel gross sales and expects used costs to rise.

“New automotive diesel gross sales have solely fallen in recent times as a result of 2030 deadline, however we may see gross sales of recent and used diesel vehicles rise now that the ICE ban has been prolonged to 2035. Diesel engines nonetheless provide the perfect mixture of gas financial system and practicality, notably with bigger SUV and 4×4 house owners. And with used diesel shares falling in keeping with new automotive gross sales for quite a lot of years we may see demand exceeding provide which can push up costs,” mentioned Mitchell.

INDICATA noticed used EV costs fall once more in August by 1.4% factors which makes them 35.5% decrease than in January 2022.

The autumn in costs continues to hurry up gross sales with the Market Days’ Provide (MDS) – derived from dividing the at the moment out there provide of vehicles by the typical day by day retail gross sales fee over the previous 45 days – of used EVs at simply 45.7 days which is now the bottom in Europe.

The elevated demand for used EVs is strengthened in August’s high three fastest-selling used vehicles all being different gas – the Toyota Prius, the BMW i3 and the VW ID.3. In the meantime, the Ford Fiesta stays the UK’s high promoting used automotive adopted by the VW Golf, and Mercedes A-Class.

“The demand for used EVs continues to rise on the again of falling costs and the MDS has fallen to the bottom in Europe. It is going to be fascinating to see how the Prime Minister’s latest announcement impacts the demand for used EVs as customers now have extra time to make the swap to electrical,” he added.