Robust 3-year RVs and surging EV demand deliver positive outlook for fleets, reports Cazana

A resurgent electric vehicle market has heavily supported the average price stability at the 3-year mark. Average EV values rose by an impressive 2% (c. £400) in October. Without this fuel type propping up the market, average overall prices would have dropped by 0.3%. And, for the seventh consecutive month, EVs saw the highest percentage increase of any fuel type.

Used EV values have climbed 3.6% (over £700) over the last two months and are up over 11% (a hugely significant £2,400) year-to-date, driven by consumers reacting to more reasonable pricing and high pump costs. However, petrol cars fell by 0.3%, hybrids dropped 0.5%, and diesel vehicles declined by 0.6%.

While current remarketing values are robust, fleet managers should note a significant spike in pre-registration activity, which can of course adversely affect used car values. By the end of September, over 2,500 76-plate vehicles were advertised on retail sites, but by the end of October, this figure jumped to over 13,000.

Volvo led pre-reg volume with c.1,440 units, followed by Vauxhall (c.1,100) and Audi (c.825), while new entrants BYD (almost 500) and Geely (c. 250) also entered the top 20 list for pre-registrations.

Cazana’s analysis suggests manufacturers are chasing non-demand-led volume in the new car market.

The fastest-selling cars in October represented three different fuel types: the Cupra Leon Hybrid (15 days), Mercedes-Benz EQC (18 days), and Ford Puma petrol (18 days).

Broader brand performance showed Mini as the standout performer, with prices rising by an average of 2%, ahead of Toyota (1.7%) and Kia (1.5%). At the other end of the scale, Land Rover fell by 2.3%, while Audi dropped by 0.8%. In the Chinese market segment, MG retail prices rose by around 1%, while BYD fell by 1%, and Geely and JAECOO posted small declines. Hatchbacks saw prices rise by 0.6%, while MPVs rose more (+0.7%) and SUVs fell by 0.6%.

Derren Martin, automotive expert at Cazana, said: “The used car retail market in October looked stable, which is hugely reassuring for the time of year, with volumes increasing from plate-change activity in September and October. Electric vehicles remain the most sought-after, and a 2% price increase is significant.

“Land Rover is one to watch, and they never seem far from the news headlines, with relatively significant price drops for their cars on retail forecourts. Pre-registration activity is certainly back with a bang, and it is interesting to see Volvo and Audi in the top three, plus some new brands quickly realising they can increase volumes by using this channel, which can, of course, damage used car values and future forecast residuals.

“It will be interesting to see if pricing stability continues in the final two months of 2026, particularly as used car demand usually slows at this time of year, and there will no doubt continue to be enticing new car offers & pre-registration activity from traditional and new brands.”