Used EV prices bottom out as bargains tempt buyers

Used electric vehicle prices bottomed out in September and October and even outperformed those for petrol and diesel models, new data shows.

Budget models such as the Renault Zoe and Nissan Leaf actually rose in value during the past two months, according to figures from used market analyst CAP HPI. 

The figures give car manufacturers cause for optimism after used EV values fell a cumulative 44% in the 12 months to the end of August as used buyers baulked at the high costs.

The whole industry has been watching nervously for indications of health in the used EV market, with many worried that the legislative push and company car incentives weren’t being matched by consumer pull.