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

INDICATA’s newest Market Watch report noticed used diesel automobile 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.

Nonetheless, 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 automobile diesel gross sales have solely fallen lately because of the 2030 deadline, however we may see gross sales of latest and used diesel vehicles rise now that the ICE ban has been prolonged to 2035. Diesel engines nonetheless provide the perfect mixture of gas economic system and practicality, significantly with bigger SUV and 4×4 house owners. And with used diesel shares falling according to new automobile gross sales for a lot of years we may see demand exceeding provide which is able to push up costs,” stated 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 present accessible provide of vehicles by the typical every day retail gross sales charge 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 bolstered in August’s prime three fastest-selling used vehicles all being various gas – the Toyota Prius, the BMW i3 and the VW ID.3. In the meantime, the Ford Fiesta stays the UK’s prime promoting used automobile 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 will likely be attention-grabbing to see how the Prime Minister’s latest announcement impacts the demand for used EVs as shoppers now have extra time to make the change to electrical,” he added.