AA Automobiles has highlighted the decline in pricing of the most well-liked second-hand EVs and hybrids.
On common within the final 12 months costs have fallen by 16%. Toyota Priuses (-31%) have dropped probably the most in worth, adopted by Hyundai IONICs (-30.2%) and Nissan Leafs (-26%).
James Hosking, director of AA Automobiles, mentioned: “The price of a model new EV or hybrid is unaffordable for a lot of households and even second-hand costs can put individuals off.
“Nonetheless, we’re seeing costs come down considerably within the used automotive market and align extra carefully with the price of conventional petrol and diesel automobiles.
“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.”
Elevated provide of used inventory from automotive leasing firms and rental companies and sluggish non-public gross sales have impacted costs within the EV market.
Pricing for probably the most looked for EV or hybrid automotive on the platform within the final 12 months, the Toyota Yaris, dropped -12.3%.
The Volkswagen Golf (1.5%) and Toyota RAV4 (1.0%) had been the one two automobiles to rise in worth since Q2 2024.
Hosking mentioned: “There are some nice offers to be discovered on second-hand EVs and hybrids should you do your analysis and store round to seek out the very best costs.
“Buyers should start by having a clear understanding of what represents good market value and looking at what other people are paying for similar makes and models.”
