Values of used electric cars are reaching parity with equivalent petrol and diesel models, new data has revealed.
First-quarter data from Manheim Auctions showed an average trade price of £16,654 for a two-to four-year-old EV, compared with £18,063 for an equivalent diesel car - a 7.8% difference. Comparable petrol cars sold for £12,980 -28.3% less than EVs and 39.2% less than diesels.
EVs were still much more expensive when compared with ICE cars across all age groups, averaging £16,829 in the first quarter next to diesel's £6051 (-64.0%) and petrol's £6108 (-63.7%). However, this was disproportionately weighted by newer, more expensive EVs, while two- to four-year-old cars represent prime used stock for franchised dealers.
Used EVs have traditionally been more expensive than their ICE equivalents, deterring many buyers, but prices began to drop sharply in late 2022, and values of contemporary examples are now typically much closer to their ICE equals.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MG 4
An EV changes your driving style - but not to the detriment of pleasure
PEUGEOT E-208
Time with our French hatch is up. Is it good riddance or au revoir?
In the hot seat
Is the best automotive job in the world actually in miniature scale? Hot Wheels' design boss assures STEPHEN DOBIE it is
Correcting the record
Autocar invented the road test back in 1928 - or did we? KEITH JONES trawls the past to find the true starting point
Road test rebooted
As the Autocar road test forges into its second century, its brief is expanding and it's returning to a familiar place. MATT SAUNDERS explains
Cyber attack
MG is back on the international stage and now trying to return to its sports car roots. MATT SAUNDERS sees if the Cyberster EV can match up to a rival from the present and a relation from the past
KIA PICANTO
As rivals fall by the wayside, Kia's popular city car gets a makeover
MASERATI GRANTURISMO
Latest coupé in a long line of Maserati GT cars hits the UK with V6 power
PORSCHE CAYENNE GTS COUPE
New V8 model gets all the goodies
TOYOTA PRIUS
Back by popular demand with a cool new look and greater driver appeal