Demand for second-hand electric cars has risen in the past few months as drivers begin swaying towards more sustainable vehicles.
According to data, due to the surge in the supply of EVs, the price point for the vehicles has lowered making them more affordable for drivers.
The AA detailed how drivers are seeing lower average prices of electric cars due to corporate leases expiring and thousands of former fleet EVs coming onto the second-hand market for the first time.
This in turn has provided greater choice and more attractive prices for buyers who are now more likely to make the switch away from petrol and diesel.
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Audi cars saw the biggest price increase
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James Hosking, director of AA Cars, explained that the overall downward pressure on pricing is likely to continue but noted that reductions “vary considerably” between different makes and models.
The drive towards second-hand cars has also been boosted by the rising prices of popular petrol and diesel cars.
Hosking said: “Buyers will find that prices for a lot of used cars are still considerably lower than they were this time last year, and that there are plenty of good deals out there.
“If you’re planning to change up your vehicle, you might be pleasantly surprised by the prices of good second-hand models.”
Looking at specific models, the Audi A5 saw the biggest increase in price rises (33 per cent) quarter-on-quarter, while other Audi models including the A1, A3, A4 and Q3 all experienced “modest” price rises.
The Nissan Qashqai which was the most “sought-after car” on the list saw prices rise in value by 2.9 per cent between Q1 and Q2 2024.
However, the AA detailed how despite an average increase in value quarter-on-quarter, used car prices remained down 3.9 per cent in the second quarter of 2023.
Hosking added that before drivers start car shopping,they should check online for price comparisons of what other buyers are paying for similar makes and models.
He stated: “When you’ve found a vehicle you really like, it’s always a wise move to have an independent vehicle inspection done before you shake on a deal with the dealer.
“This will give you peace of mind that the car you want is in good condition and won’t leave you facing an expensive repair bill down the line. Reassurance like this can be priceless.”
In total the average price of the 20 most popular used petrol and diesel cars on the platform has increased in the three months to June.
Prices rose by 3.5 per cent during the quarter compared with the previous quarter which aided in the uptick of more electric vehicles.
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Prices of petrol and diesel used cars increased by 3.5 per cent during three month period
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As of the end of June, data by ZapMap found that there are 1,145,000 fully electric cars on UK roads and a further 670,000 plug-in hybrids.
