Oh, Look! Used Electric Car Prices Finally Decide to Rise

In the riveting world of car dealer news and motor trade news, brace yourselves for a revelation - used electric car prices have miraculously inched up by 0.8 per cent! A momentous occasion indeed, marking the first time in a year that these prices have displayed anything other than a downwards trajectory.

According to the data unveiled by Auto Trader for September, used electric vehicles (EVs) are now worth a fraction more than they were just a month ago. However, before we pop the champagne, let's remember that they are still miles away from their glory days of yesteryear.

Auto Trader, in its wisdom, has enlightened us with the fact that 'demand is outpacing supply' for these electric wonders. Well, who would've thought? It's almost as if people are starting to catch on to the whole EV thing.

Oh, but don't get too carried away. The latest figures reveal that used EVs have experienced an astronomical 21.4 per cent decline in value over the past year in the retail market. Yes, you heard that right, over 21 per cent! But hey, at least some of them are now more affordable than their petrol or diesel counterparts. What a win!

For example, a three-year-old Renault Clio will set you back an average of £13,163. But why bother with that when you can snag an electric Zoe for the princely sum of £12,550? And let's not forget the electric Jaguar I-Pace, a mere £30,000, while its petrol-guzzling sibling, the F-Pace, dares to demand an extra £4,000. Outrageous, isn't it?

Richard Walker, Auto Trader's data and insight director, has some uplifting words for us: "Although it's still early days, it's positive to see that after more than a year of contraction, the market is beginning to see green shoots emerge in used EV pricing." How delightful! Who doesn't love green shoots when their investments have been wilting away?

But wait, there's more! Auto Trader's mid-month update also informs us that petrol car values have experienced an earth-shattering growth of 0.1 per cent. Meanwhile, diesel prices decided to go against the grain and plummet by a whopping 0.7 per cent compared to August. But don't let that dampen your spirits because, on an annual basis, petrol prices have soared by an astonishing 3.4 per cent, and diesels have managed a jaw-dropping 2.4 per cent increase. Truly riveting!

Tom Barnard, the editor of Electrifying.com, has an explanation for the sudden revival of used EV prices. Apparently, Tesla's decision to lower its new model prices was the initial spark that set this whole rollercoaster in motion. Now, buyers are rubbing their hands together, thinking that used electric cars are the deal of the century. Oh, and did we mention that the rise in fuel prices is making EV ownership more attractive? Well, it's all part of the master plan.

In a fascinating twist, data from Cap HPI has shown that some electric cars have lost nearly half their value in just a year. But hey, who cares about that when you can snap up an electric bargain, cheaper than the ICE versions? It's almost like Christmas came early for used car shoppers.

In conclusion, brace yourselves, folks, because the electric car market is experiencing a whopping 0.8 per cent price rise! Who knows what other miracles await us in the realm of used cars? For more information on this electrifying saga, you can always head over to cardealermagazine.co.uk.

source http://autoengage.co.uk/home-page-6165/b/oh-look-used-electric-car-prices-finally-decide-to-rise