Used EV prices tumble

The AA says that the average listing price for used electric vehicles (EV) has fallen by 17% in two years.

The average price for an EV was £16,603 in September 2014 but had fallen to £13,751 by June.

Meanwhile, the number of second-hand EVs advertised on the AA’s used car-portal between May and June this year increased more than 600 per cent compared to the same months in 2014. They were 652% higher than in the second quarter of 2014 and 66% higher than the same period in 2015.

The AA says it expects over 500,000 electric and plug-in hybrid vehicles to be in use by 2020, while 4,100 charging locations are already available across the country.

Paul Yates, managing director of AA Cars, believes an EV revolution is gripping the country. She said, ‘National statistics suggest that 95 per cent of car journeys in Britain are under 25 miles while a third of families have two or more cars, making electric vehicles an ideal option as a second car. And as old perceptions about the barriers to EV ownership start to dissipate, we expect this upward trend in used electric vehicle stock to continue.’