Prices of used electric cars in April went up more than 10 percent.
Situation on the car market is currently quite exciting. While on one hand after record numbers in sales of ICE-driven cars are now stagnating – and even falling down – market for new electric and electrified cars is reaching all-time records: both in terms of models available on the market and number of vehicles sold. However, this trend has pushed ahead something else: prices of used electric and electrified cars in UK.
According to Auto trader, prices of used cars, regardless of the type, are on the up. Compared to the average price of used car in 2018 this has grew by 1,53 percent to 12.826 pounds; while prices of petrol-driven cars grew a bit more, prices of used diesels are growing slower and only grew by 1,25 percent compared to the year before.
Prices of used electric cars/AFV on the other hands are rising much faster. Even though there is much more of them on the market, price of AFV cars went up 4,72 percent. In fact, price of average used AFV was in April 21,560 pounds. Furthermore, price of used purely electric cars went up whooping 10,98 percent compared to April 2018.
“When it comes to low-emission vehicles, the industry is facing a Catch-22 situation. The growing appetite of AFVs offer the industry a great opportunity for growth, but for mass adoption, the average price needs to be more accessible to more people. However, with so few vehicles in the market, even second-hand cars are being pushed out of financial reach for most consumers,” explains Karolina Edwards-Smajda, Auto Trader’s Director of Commercial Products.