The used vehicle market observed a significant shift in July, with petrol vehicles rebounding to capture a larger market share while battery electric vehicles (BEVs) experienced a decline, according to a report from Indicata Market Watch.

Despite a decrease in market share, BEVs have seen an improvement in their Market Days’ Supply (MDS), indicating a potential stabilisation in the sector.

After months of decline, petrol vehicles have seen a resurgence, with their market share increasing to 43.18% last month. This trend is even more pronounced in the overall used car sales, where petrol vehicles now hold 46.08% of the market.

For cars under four years old, the petrol vehicle share reached 43.85%.

Diesel vehicles, on the other hand, have maintained a relatively stable market share at 34.76%, with a slight month-on-month fall.

BEVs, meanwhile, have seen their market share decrease to 5.18%, down from 5.46% the previous month.

Hybrid vehicles have remained stable, with a market share of 16.88%, while plug-in hybrid electric vehicles (PHEV) and hybrid electric vehicles have seen a slight decrease to 8.98%. Mild hybrid electric vehicles (MHEV) recorded a modest rise to 7.9%.

In terms of pricing, there has been a general decline in average used car prices across various European markets.

The overall picture for July in the used vehicle market shows petrol vehicles gaining momentum, while BEVs face challenges with oversupply and pricing.

The broader market is experiencing downward price adjustments, reflecting changing consumer preferences and economic conditions.