Published in: 
Motor Trade News
Date: 
22 April 2024

EVs selling faster than ICE vehicles according to digital remarketing specialist

THE digital marketplace examined data over the last four months and found that EVs sell in 17 hours and one minute, which is one hour and 15 minutes faster than ICE vehicles.

The study also showed that EVs achieved 106.87% of cap Live, with ICE vehicles at 106.39%. Julian Humphreys, co-founder and Chief Executive of MOTOM, said: “The data shows that confidence in EVs continues to grow. There is a clear buyer appetite for the right EV, and demand has recovered since the middle of last year.

“Buyers are still selective around EVs; the swing in terms of cap performance runs from 103% to 119.5%. We’ve found that demand remains constant, and we don’t hold special EV sales as buyers come from all corners of the market.”

MOTOM provides a digital wholesale marketplace for vendors and buyers. It has grown quickly since its launch in late 2022 by providing an efficient and data-rich platform for remarketing managers and wholesale buyers alike. Users benefit from no subscription or selling fees, while buyers only pay a flat fee of £150 plus VAT.

MOTOM says its platform is built for the fast-moving EV market, as vehicles are available to buy as soon as they are listed.

Humphreys added: “Our fastest vehicle sold in 19 seconds. In a dynamic market, it’s essential to remarket vehicles quickly and effectively to take advantage of market trends. We provide in-depth market insight to help vendors and buyers price their vehicles efficiently. Traditional remarketing routes can take weeks to sell a vehicle and be impacted by multiple book drops – we believe there is a better way.”

Vendors can choose to sell a vehicle to the whole market or selected buyers such as franchised dealer groups. The process can be automated using an API to speed up the sale process for one or hundreds of vehicles.

Start Trading Today

Get access to the MOTOM marketplace and start buying or selling used vehicles. 

Simply download the app using the link below. You will register for an account and can get started right away.
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