Values of used electric models surge by 20%
Some used electric models have seen their values increase by more than 20% in six months, according to new figures from Solera cap hpi.
The price of a three-year-old MINI Electric has gone from £9,905 in the spring to £12,710, which represents a 28% increase, while the Tesla Model 3 and Polestar 2 have each seen average values rise by 20.9% to £22,188 and £21,822 respectively.
Other used electric models seeing their values increase dramatically include the Cupra Born (19.9%), the Subaru Solterra (19.3%), the Peugeot e-208 (17.4%), and the MG4 (15.4%).
However, Chris Plumb, head of current valuations at Solera cap hpi, cautioned against interpreting the increases as evidence of runaway used electric vehicle prices and said it was more a case of the market rectifying itself after dramatic falls.
He said: “What we’re really seeing is a recovery from previously depressed positions rather than a market running away with itself. In many cases these vehicles still represent excellent value for money and are becoming increasingly attractive to used car buyers as confidence in EVs continues to improve.
“It’s important to look beyond the percentages. Even after those increases, many of these vehicles remain relatively affordable. The MINI Electric is now around £12,700, the Peugeot 208 sits at around £11,300 and the MG4 just over £13,000.”
