Used EV and hybrid supply drives down prices
Increased supply of used EV and hybrid vehicles has led to a 10% fall in prices, according to AA Cars.
Its latest Used Car Index revealed that the average price for the 20 most searched for EVs and hybrids has fallen from 20,956 to £18,973 in the last 12 months.
Meanwhile, prices fell six per cent alone in the final quarter of 2024.
Its data found that the Toyota Prius saw the biggest price depreciation at 42%, followed by the Nissan Leaf (25%), Renault Zoe (25%) and Tesla Model 3 (22%).
Meanwhile, the most popular used EV and hybrid, the Toyota Yaris, saw average prices come down by 14%.
Used EV and hybrids
James Hosking, director of AA Cars, said: “The most popular second-hand EVs and hybrids are becoming more and more affordable for the average motorist. The supply of used electric and hybrid vehicles continues to outpace demand, which is why we’ve seeing such significant price falls.
“Buyers are saving over £2,000 compared with this time last year, even though the average age of used EVs and hybrids on the site has fallen slightly during this period. We may soon reach a point where the most popular second-hand EVs and hybrids are cheaper than their petrol and diesel counterparts.”
