- September saw an end to a year of plunging EV values – experts say it could be a ‘turning point’ for prices
- Demand is showing signs of recovery because prices are now so low that they’ve become more affordable
- These are the year-old EVs that are cheaper than their petrol equivalents. Five used EV buying tips below
With electric car values plummeting in the last 12 to 18 months, experts say that used prices have crashed so low that drivers are starting to snap them up quicker than second-hand petrol and diesel models.
This is Money has been tracking the falling value of electric vehicles (EVs) since the downward spiral began towards the end of 2021 – recently revealing the 30 battery models worst hit that have shed between 30 per cent and 50 per cent of their value in one year.
But now businesses monitoring the second-hand market say used EV prices have bottomed out – and ultimately aren’t expected to drop much lower.
With prices at rock bottom – and in some cases now cheaper than petrol alternatives – could you be tempted to make the switch? If so, we have tips you need to follow when hunting for a second-hand EV.
Cap Hpi, which analyses the used vehicle market, says that values across all fuel types fell by 1.9 per cent – an average of £420 – from August to September, based on three-year-old models with 60,000 miles on the clock.
Read more: ThisisMoney
It’s Time to Go Green!
If you would like to know more about Solar Panels and the PowerBanx range of home battery systems, and get a free instant quote, please complete our online form:
