Aston Barclay has reported that the price of some used EVs are now comparable to their ICE equivalents after revealing that used EV values dropped 1.4% in the second quarter of 2023.
Average prices decreased to £22,100, with an average age and mileage of 30 months and 22,128 miles.
Meanwhile, hybrid values fell by 5.6% to £18,280 despite average age falling to 47 months and 45,786 miles.
Nick Thompson, Aston Barclay’s Director of Sales, said, “We have seen used EV prices stabilise in quarter two. What is significant is that dealers are reporting that some used EVs and equivalent model ICE cars are reaching price parity which will mean a used EV should appear on more driver shortlists when replacing their next used car.
“The next challenge for the market is the lack of appetite from buyers to purchase used cars in need of major repairs. This will require vendors to revisit their reserve prices or refurb the used car before it goes under the hammer.”
