Used electric vehicle values continue upwards trend
Used electric vehicle values in the three-year age bracket have risen seven per cent since March, according to Cazana.
The increase follows a 1.6% rise in July alone.
Against this, petrol and diesel prices dipped by 0.1% last month and hybrids dropped 0.3%.
Electric vehicle sales are dominated by ex-company cars, with corporate models like the Peugeot 208 Electric, Mercedes-Benz EQB, VW ID.4, and Tesla Model Y all selling inside 14 days.
Derren Martin, automotive expert at Cazana, said: “Once again, the main story is electric vehicles, which continue to increase in price and sell quickly. With petrol and diesel prices at the pump remaining high as events in the Middle East remain volatile, more and more dealers and consumers are taking the plunge for EVs.
“The used car retail market in July remained stable for the second month in a row, after seeing prices increasing before June. This should certainly be seen as a positive for the time of year, with multiple distractions for the consumer, including school holidays, hot weather, and the World Cup.
“With trade values dropping slightly, margins are being maintained overall. With volumes on forecourts increasing, it doesn’t seem likely that prices will rise overall, but they should remain relatively stable.”
