Used EV and hybrid prices tumble 16% in a year
New research has found that the price of the most popular used EVs and hybrids has fallen by 16% on average in the last year.
According to research carried out by AA Cars, the average price of a Toyota Prius has fallen 31% in 12 months, while the Hyundai IONIC is now 30% cheaper and average Nissan Leaf prices have decreased by 26%.
Meanwhile, the price of the Toyota Yaris has dropped 12.3%.
Across the 20 most popular used EVs, 15 saw values fall by more than 10%, with average prices down from £21,302 to £17,967 in the last quarter alone.
The Volkswagen Golf was the only car to hold its value from 2023 to 2024.
Used EV deals
James Hosking, director of AA Cars, said: “The cost of a brand new EV or hybrid is unaffordable for many families and even second-hand prices can put people off. However, we are seeing prices come down significantly in the used car market and align more closely with the cost of traditional petrol and diesel cars.
“This convergence in pricing should strengthen the appeal of going electric, as we know it has proved a major stumbling block for a lot of prospective private buyers.”
