Prices of used electric cars down 10%
New data has reported a 10% fall in values of the UK’s most popular used electric cars.
According to AA Cars Used Car Index, the average price of the 20 most searched-for used electric vehicles was £13,940 the second quarter of the year.
This compares to £15,488 a year earlier.
Meanwhile, prices also fell from the first three months of the year, down 3.9% from an average price of £14,511.
The Nissan Leaf saw values decrease 17% year-on-year, from £9,855 to £8,146, while the Jaguar I-Pace dropped 14.4%, the Tesla Model Y fell by 13.9% and the Peugeot e-2008 was down by 10.9%.
Hybrid prices were more resilient, with the average cost of the 10 most searched-for hybrids rising 0.5% year-on-year to £17,581, while average values for the 20 most searched-for petrol and diesel cars fell 5.3% year-on-year to £11,167.
Affordability
James Hosking, managing director of AA Cars, said: “A year ago, many drivers may have looked at electric cars and decided they were simply too expensive. That picture is changing. Used EV prices have fallen by 10% in a year, and models are now within reach of far more buyers.
“Hybrids are following a different path. Their prices have been much steadier, which suggests buyers still value the flexibility they offer.
“Petrol and diesel models have also become cheaper, and the Ford Fiesta remains the most searched-for conventional car despite production ending three years ago. That says a lot about how strongly drivers still value cars that are familiar, affordable, and economical to run.”
