Values of used pure electric vehicles surge 11%

Values of used pure electric cars surged 11 over the past year with growing demand and limited supplies hitting the market.

The performance is in marked contrast to the overall used car market which rose just 1.5%.

Whilst internal combustion engines (ICEs) are stumbling, their electric powered counterparts are thriving.

Nissan Leaf collection in St Albans (Image: T. Larkum)

Nissan Leaf collection in St Albans (Image: T. Larkum)

With an average sticker price of £21,560 in April, used alternatively fuelled vehicles (AFVs) grew at a rate of 4.7%, up from last month’s 3.7% and, indeed, the highest rate of growth since August 2018. But the star of the show is pure electric; at £23,361, the highest price to date, EVs are growing at a double-digit rate (11%), according to the latest Auto Trader Retail Price Index.

The surging prices of low-emission vehicles can be attributed to supply and demand. On Auto Trader, the UK’s largest automotive digital marketplace, AFVs currently account for just 1% of stock listed, whilst petrol and diesel account for 52% and 47% respectively.

Read more: Motor Trader

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