Used electric vehicle values reverse downward trend
New data has revealed that used electric vehicle values rose 2.9% in October, the sharpest rise of any fuel type.
According to Percayso Vehicle Intelligence, values of used electric vehicles rose an average of £600 last month.
The rise ends a sustained period of falling prices of used electric vehicles.
The Nissan Leaf saw values rise most, up 10% from just under £13,000 to over £14,000, while the Tesla Model 3 saw average prices increase by 7.8%.
Demand increasing
Derren Martin said: “Demand for electric vehicles continues its upward trajectory, and this is illustrated in the strong increases in prices. Many models now look fantastic value at the three-year age point in particular.
“Consumers are now more actively considering these, and independents and car supermarkets are stocking them in greater numbers now. This is great news for the whole automotive market, as strong residual values are dependent on strong current used car values.”
He added: “The final two months of the year will be fascinating to track whether the recent trend of retail prices increasing continues, or whether normal seasonality comes into play, as consumers focus on saving money for the festive season.”
