September used EV values continue to rise reports cap hpi

THE value of electric vehicle (EVs) on the used market continued to rise.

The latest report from automotive data analysts cap hpi said that EVs rose 0.9% during September.

Average values, meanwhile, remained static.

The rise in EV values was seen for pure battery electric cars across the range of segments: Renault Zoe, BMW i3 and Tesla Models S and X.

cap hpi said that average used values failed to move in September at three years / 60,000 miles. Newer cars increased marginally by  0.1% at the six month and one-year points. Older cars had dropped slightly, but the 0.3% decrease at five-years-old was again negligible.

Derren Martin, Head of Current Valuations at cap hpi said:

“With retail demand unlikely to dissipate anytime soon and supply lower than normal, there is the potential for prices not to drop by as much as they have done at this point in previous years. The average drop during October over the last  four years was 1.7% at the 3-year point, with it being as high as 2.2% in 2015. Last year it was just -1.2% and this year there is the possibility it will not even drop by that amount.

“It is fair to predict a strong, stable used car market over the coming weeks”

“As always supply and demand dynamics need to be viewed at a micro level and the Valuations Editors producing black book live will as always be looking at the finite details within both trade and retail data throughout the month.”