10:34 am, July 31, 2025
The government’s new Electric Car Grant has sparked increased demand for EVs with used prices increasing as a result.
That is according to new data from Motors, which has found a rise in used EV searches following Labour’s recent announcement.
The grant, which slashes the price of a new EV by up to £3,750, cannot be applied to second-hand vehicles but that hasn’t stopped interest ramping up.
Motors found that high levels of buyer interest have been accompanied by a 3% (or £771) rise in average used EV prices to £24,949 so far in July – the second consecutive monthly increase.
The rise means that used EVs are now more expensive than hybrids (£24,681) for the first time since February.
The rise was mostly driven by a 7% MoM increase in nearly new EVs being listed on the Motors platform with prices averaging £32,157, up 3% (or £895) month-on-month.
Meanwhile, EVs aged two to five years also increased 3% (or £608) to £24,324.
Lucy Tugby, marketing director of Motors, said: ‘We tracked a significant rise in EV searches triggered by the Electric Car Grant announcement, with buyer interest raised even though used cars were excluded from the government’s scheme.
‘An influx of defleeted models under two years old also generated plenty of online activity.
‘While the average price of a used EV increased in July, it was still 8% lower than 12 months ago, representing an attractive saving for some buyers considering transitioning to electric.’
Overall, July’s Market View saw stability across pricing, dealer inventories and consumer demand.
The average price of a used car on Motors was £17,522, up 2% (or £343) on June and 1% on the same point last year.
Elsewhere, stock levels were unchanged at 50 units and days to sell remained flat at 31.
The fastest selling used car honours in July were shared by the Vauxhall Grandland (petrol, under six months and less than 5,000 miles) and the MG HS (petrol, under six months, less than 5,000 miles) averaging just eight days on dealer forecourts.
The fastest selling hybrid was the Nissan Qashqai (one to two years, 10,000 to 20,000 miles) at 11 days.
When it came to EVs, the Volvo EX30 (under six months, up to 5,000 miles) came out on top, selling in an average of just 15 days.
Tugby added: ‘Against a background of socio-economic uncertainty, the July used car market proved to be remarkably resilient with dealers achieving some solid results in the lead up to August when buyers’ priorities and budgets switch to summer holidays.’
