Used EV values rise for first time in 2026 as fleets gain confidence on residuals

May 21, 2026

Used EV prices rose faster than any other fuel type in April, marking a potentially significant turning point for fleets after months of concern around falling residual values.

New analysis from Cazana found used EV prices increased by 1.1% in April, outperforming hybrids (+0.9%), diesel (+0.3%) and petrol, which slipped by 0.5%.

The shift matters because weak used EV values have become one of the fleet sector’s biggest pain points over the past year, heavily impacting leasing costs, replacement strategies and electrification confidence as FleetWise explored at detail in a previous edition of Better Fleet.

Cazana says rising fuel prices and growing consumer appetite for cheaper-to-run vehicles are now helping drive stronger used EV demand, with a third more EVs sold in March and April compared to the first two months of 2026.

Derren Martin, automotive expert at Cazana, said the data suggests “the early adopter phase of the used EV market is over”, with a “hungry and stable secondary market” now emerging.

The trend comes as fleets continue operating older vehicles for longer. Separate data from Epyx shows the average company car entering a workshop is now almost three years old, up from 2.4 years before the pandemic, while average van age has risen from 3.14 to 3.33 years.

Tim Meadows, chief commercial officer at Epyx, said: “Factors ranging from better quality vehicles to higher acquisition costs have made longer replacement cycles attractive and what we may now be seeing is the development of a consensus around post-pandemic fleet averages.” Wider industry pressures, including tighter manufacturer EV targets and reduced diesel van availability, are also thought to be slowing replacement activity for some operators.