Used electric vehicle (EV) pricing may finally be bottoming out, with new analysis from Marketcheck indicating the first meaningful signs of recovery after months of declines.
Marketcheck data shows EV prices held firm from January to March before dropping sharply over the summer. The average advertised price slipped from £24,373 in March to £22,162 in August – a fall of £2,211.
But momentum shifted between August and October, with the average rising £1,359 to £23,521.
Alastair Campbell, head of Marketcheck UK, said: “After a prolonged period of falling prices, we are now seeing the first signs that the cost of a used EV may be starting to climb once again… This could mark a turning point for the used EV market.”
The trend aligns with wider market data. Webuyanycar figures show used battery electric vehicle (BEV) sales surged 44% in Q3, reaching a record 4% share. Electrified models (BEV, PHEV, HEV) accounted for 10.5% of all used transactions, with BEVs alone recording 80,614 sales.
The overall used market grew 2.8% in Q3 to 2,021,265 units, the strongest third quarter since 2021 – marking 11 consecutive quarters of growth.
Webuyanycar’s Richard Evans said: “The shift towards an electrified road network is continuing at pace… nearly new electric vehicles are playing an increasingly important role in meeting consumer demand.”