Peugeot ionPeugeot ion


Used electric car prices up double the average as petrol crisis heightens demand – here’s the top 10 risers

  • Petrol crisis helps buoy demand for used electric cars as prices surge ahead
  • EV prices up by more than double the rest of the market in October
  • Top 10 list of EV price risers sees some rise by more than £1,000 in a month

Time 3 weeks ago

Electric cars rose in value twice as much as the average used car last month as the fuel crisis turned consumers’ attention towards alternative fuels.

Research by data experts Cap HPI reveals that three-year-old electric cars rose in value 2.4 per cent in October – compared to an average of 1.2 per cent for all other used cars.

Chris Plumb, Cap HPI electric vehicle valuations expert, told Car Dealer: ‘While it’s difficult to attribute all the strength that we have witnessed for battery electric vehicles on the recent fuel shortages along with the rising costs to fill up at the pumps, it certainly has helped to pique consumer interest.  

‘In addition, against the backdrop of reduced supply of vehicles in the used market, some retailers have turned their attention to stocking EV’s to fill gaps on the forecourt and have been pleasantly surprised at how they have performed.’

Used car prices have grown 30 per cent so far this year, but are starting to plateau.

Cap HPI’s head of valuations Derren Martin told Car Dealer last week that seasonal changes are starting to see the huge price rises recently experienced begin to fall back.

However, electric car price rises were the strongest during October and while the petrol shortage played a part in interest surging, the valuations team believes consumers are also beginning to become more interested in EVs in general.

Plumb added: ‘A continuing trend that we have seen of late is the strong price performance of electric vehicles aged between three and five-years-old, mainly due to the lower and more palatable price point when compared to the nearly new vehicles currently on offer.’

Cap HPI has provided data on the top 10 electric used cars that rose in value the most in October.

Top 10 electric car price rises

Price rises in October compared to previous month

1. Nissan Leaf – up 10.3 per cent 

Nissan Leaf outside Nissan dealership

Up £1,030 on average in October

2. Peugeot Ion – up 4.5 per cent

Peugeot ion

Up £225 on average in October

3. BMW i3 – up 4.3 per cent

BMW i3s

Up £733 on average in October

4. Smart FourTwo electric – up 4 per cent

Smart electric

Up £346 on average in October

5. Volkswagen Golf Electric – up 3.8 per cent

Electric VW Golf

Up £600 on average in October

6. Audi e Tron – up 3 per cent

Audi e-tron in white

Up £1,167 on average in October

7. Jaguar iPace – up 3 per cent

Jaguar iPace

Up £1,075 on average in October

8. Mercedes EQC – up 3 per cent

Mercedes EQC

Up £1,167 on average in October

9. Tesla Model S – up 2.9 per cent

Tesla Model S June 2015

Up £843 on average in October

10. Kia Soul Electric – up 2.1 per cent

Kia Soul electric

Up £300 on average in October

James Baggott's avatar

James is the founder and editor-in-chief of Car Dealer Magazine, and CEO of parent company Baize Group. James has been a motoring journalist for more than 20 years writing about cars and the car industry.

More stories...

Server 190