8:04 am, March 29, 2023
Electric cars dominated a list of cars that lost the most value in March, while petrol-power convertibles saw their values grow by hundreds of pounds.
The data, shown exclusively to Car Dealer, comes from valuations experts Cap HPI and shows the recent slide in EV values is far from over.
Overall, March saw used car prices rise by 0.5 per cent – a new record, Cap HPI told Car Dealer, with March representing three months of increases in the first quarter.
The figure would have been 0.8 per cent, however, if pure-electric car prices were taken out of the equation, which continued to slide by 5.4 per cent in March.
Cap HPI’s Derren Martin said it’s ‘now dangerous’ to lump all electric vehicles together as some models rose in value in March.
However, the biggest fallers data is dominated by the fuel type with nine of the top 10 being pure-electrics.
Values of the Seat Mii Electric plummeted by 11.7 per cent in March, or £1,300 at the three-year/60,000-miles mark.
The dinky Seat was the biggest faller in percentage terms, while the car that lost the most in monetary value was the Tesla Model X.
The range-topping Tesla SUV saw on average £4,962 lopped off its value in March.
The top 10 biggest fallers in March is listed below.
It was better news for the Suzuki Baleno which was March’s biggest riser in terms of value.
The compact Japanese hatchback saw prices rise by 12.2 per cent on average at the three-year/60,000-mile mark, or £838.
The top 10 list is also detailed below and includes a number of petrol-powered convertibles.
Cap HPI’s Martin told Car Dealer: ‘When you’re talking about nine/ten per cent falls, they are big movements in a month – and that’s off the back of some previously high downward movements.’
He added: ‘‘There are no bargains to be had in the petrol and diesel world at the moment because prices are so high.
‘But there are some relative bargains to be had with EVs.’
Top 10 biggest fallers in March at 3yrs/60,000 miles
Seat Mii Electric
Percentage fall: 11.7 per cent
Monetary fall: £1,300
Volkswagen E-Golf
Percentage fall: 10.5 per cent
Monetary fall: £1,400
Kia Soul Electric (2014-2019)
Percentage fall: 10.5 per cent
Monetary fall: £1,400
Peugeot e-2008
Percentage fall: 9.7 per cent
Monetary fall: £1,529
Tesla Model X
Percentage fall: 9.7 per cent
Monetary fall: £4,962
Renault Zoe (2013-2020)
Percentage fall: 9.6 per cent
Monetary fall: £983
Maserati Quattroporte Diesel
Percentage fall: 8.8 per cent
Monetary fall: £2,643
Peugeot e-208
Percentage fall: 8.7 per cent
Monetary fall: £1,188
Volkswagen ID.3
Percentage fall: 8.7 per cent
Monetary fall: £1,759
Ford Mustang Mach-E
Percentage fall: 8.7 per cent
Monetary fall: £2,570
Top 10 biggest risers in March at 3yrs/60,000 miles
Suzuki Baleno
Percentage increase: 12.2 per cent
Monetary increase: £838
Subaru BRZ
Percentage increase: 8.2 per cent
Monetary increase: £1,438
BMW Z4
Percentage increase: 8.2 per cent
Monetary increase: £1,945
Mini Cooper Clubman Diesel
Percentage increase: 7.1 per cent
Monetary increase: £1,005
Audi S3 Cabriolet
Percentage increase: 6.2 per cent
Monetary increase: £1,250
BMW 4 Series Convertible (2020-)
Percentage increase: 6.1 per cent
Monetary increase: £1,495
Volvo S60 (2019-)
Percentage increase: 6.1 per cent
Monetary increase: £1,060
Mazda MX-5 (2015-)
Percentage increase: 5.9 per cent
Monetary increase: £718
Vauxhall Astra (2015-2020)
Percentage increase: 5.1 per cent
Monetary increase: £493
Fiat Tipo Diesel
Percentage increase: 5.1 per cent
Monetary increase: £406
