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← Newsroom/EVs & hybrids

EV boom zaps second-hand prices for petrol and diesel cars

Compiled by ADME Newsroom from 1 source

First reported by The Age · 17 October at 5:00 am

Who's covering this — 1 article

State press: 1

Australian drivers are upgrading to EVs and selling their old petrol and diesel cars, causing a surge in supply
The increased supply of second-hand petrol and diesel cars is driving down their prices
The shift to EVs is happening rapidly, with many drivers offloading their old cars en masse
The falling prices of second-hand petrol and diesel cars will impact the used car market

For dealers: Dealers need to adjust their pricing and inventory strategies to account for the falling prices of second-hand petrol and diesel cars

AI-assisted summary of the coverage below — check the original reporting before relying on specifics.

ADME commentary

The ADME angle

The rapid decline in second-hand petrol and diesel car prices will force dealers to reassess their used car inventory and pricing strategies to remain competitive

What it means for used car inventory

Dealers who fail to adapt to the changing market will see their used car stock depreciate rapidly, resulting in significant losses

The key to success will be to accurately forecast the demand for EVs and the corresponding decline in demand for petrol and diesel cars, allowing dealers to adjust their inventory accordingly

Pricing and margin implications

Dealers will need to be aggressive in pricing their used petrol and diesel cars to clear stock and make room for newer, more in-demand models

The falling prices of second-hand petrol and diesel cars will also impact the pricing of new petrol and diesel cars, as buyers will have more affordable alternatives

Competitor response and opportunity

Dealers who can effectively manage their used car inventory and pricing will be well-positioned to take market share from competitors who are slower to adapt

One decisive action a dealer could take this week is to conduct a thorough review of their used car inventory and pricing strategy to identify areas for adjustment and opportunity

Go deeper — ADME analysis