Used electric vehicle values 10% cheaper than ICE models
Used electric vehicle values are about 10% cheaper than petrol or diesel equivalents from the same manufacturer, according to new research.
CarGurus has found that used combustion engine models are on average £2,560 more expensive than electric models.
This is based on analysis of used car values from the UK’s 30 largest vehicle manufacturers, comparing those that offer standalone electric and comparable fuel-powered models.
Of the models analysed, the 2021 Mazda MX-30 was available for 28% less than its ICE alternative, the 2024 Mazda MX-30 was 24% cheaper, while the 2021 Jaguar I-Pace was 22% less than the F-Pace.
The research also found that EVs had on average 18% fewer miles than the comparable ICE models.
Used electric vehicle values
Chris Knapman, CarGurus editorial director, said: “The days of electric cars costing significantly more than their petrol or diesel equivalents are over – at least as far as the used market is concerned. The SMMT data on used car sales from 2024 highlights that more used EVs were sold than ever before, with figures up 57.4% versus 2023.
“Our research shows just what good value some used EVs currently represent, including long-range models such as the Skoda Enyaq and Jaguar I-Pace. While it’s no secret that, right now, electric vehicle ownership won’t work for everybody, it is equally true to say that it can be a fantastic fit for a lot of motorists. With the potential for thousands in savings over an equivalent petrol or diesel model, combined with lower running costs, there’s never been a better time to consider EVs on the used market.
“What’s more, it’s not only the pricing that is currently very attractive: compared with the earliest EVs, where the range might be limited to under 100 miles, newer models have improved dramatically with greater ranges, faster charging, and stronger performance.”
