The used electric van market is accelerating as more vehicles enter the second-hand sector and a broader range of buyers compete for BEV stock, Solera Cap HPI has reported.

Trade sales of battery electric LCVs have increased steadily over the past five years, providing clearer valuation evidence while also helping to build confidence among buyers.

Auction contacts spotlighted a marked change in attitudes towards electric vans. What began as a niche market dominated by a relatively small number of buyers testing demand has developed into one supported by a much wider buyer base.

Ken Brown, LCV valuations editor at Solera Cap HPI, said: “We are seeing a clear change in the used BEV market. A few years ago, electric vans attracted a relatively small number of buyers who were effectively dipping their toe in the water. That buyer base is now much broader with greater confidence in the market.”

This growing appetite for electric vans coincides with unexpected resilience across the broader used LCV market during the late summer months.

According to the data, retail demand remained resilient through late summer, while both physical and online auctions recorded strong attendance and bidding activity. Overall used prices also remained relatively stable.

Brown said the strength of the market through the summer had been encouraging.

“August would normally be expected to quieten as people head away on holiday, but auction activity remained busy, and retailers continued to buy stock.

“With guide price adjustments of -0.7% at three years and 60,000 miles, and -0.7% overall for the October edition, the movements we’ve made reflect the relatively stable current market conditions.”

The adjustments follow an average guide price adjustment of -0.6% at three years and 60,000 miles in the September Red Book. Across all ages and mileages, the average adjustment was -0.8%.

For its October edition, Solera Cap HPI also highlights signs of improvement in some previously weaker areas. Interest in minibuses is renewed after several months of declining demand and values, with evidence emerging of an upward trend in prices.