Demand for used EVs rising

The value of some used electric vehicles is rising, driven by demand.

Experts at automotive data company cap hpi have found that some owners could buy an electric car, run it for 12 months and make a profit on it when sold.

A combination of factors including the rollout of clean air zones, cheaper running costs, increased charging points, incentives to drive and wider availability from manufacturers has helped pique interest in EVs.

Three models rising in value are the Nissan Leaf, Renault Zoe and Mitsubishi I-MIEV.

The Leaf was first introduced into the market back in 2011and has evolved through the years, with the latest model offering a published range of 168 miles and a new battery offering a range of over 200 miles on a single charge coming sometime this year. Drivers can now pick up a used Nissan Leaf from circa £7,500 and above which offers good value for money for anyone looking to enter the world of electric vehicles.

Meanwhile, with a similar range to the Nissan Leaf, the Zoe is seen as an alternative option. The 100% owned vehicles hold their price but tend to be very rare.

Research has also found that the Mitsubishi I-MIEV offers value for money as a second car, with sale prices starting around the £5,000 mark.

Chris Plumb, electric vehicle expert at cap hpi, said, ‘New sales of electric vehicles continue to gain market share and their popularity is building for buyers of used cars. Some of the smaller models make an attractive used buy with a low purchase price and running costs. Additionally, many towns and cities offer incentives for drivers of electric vehicles such as free charging points and parking.’