BMW i3 electric vehicles
The BMW i3 recently hit 10,000 UK sales as used EV values soared in Q1
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  • The value of electric vehicle have soared 41% compared to Quarter 4, 2017
  • Q1 2018 average used prices increase by 5.3% with used petrol prices reaching an all-time high at £8,978
  • Diesel values remain flat despite massive increase in cars offered for sale

ONLINE portal Autorola reports a 41% increase in the average selling price for electric vehicles – up to £19,789 from Q4 2017’s £13,981.

John Mitchell: positive Q1 market
John Mitchell: positive Q1 market

Although the number of EVs sold was relatively small, Autorola said it showed that dealers are beginning to consider EVs to add to their stock mix.

The average age fell from 15 months to just nine months, and mileage virtually halved from 6,086 to 3,662 may also have contributed to this price increase, added Autorola.

Elsewhere it said first quarter saw the value of used cars rise by an average of 5.3% from £9,504 in the last quarter of 2017 to £10,008 during Q1.

On the traditional fuel front, diesel vehicles returned a slight (0.3%) increase in value to £11,158 – however, cars offered in Q1 were, on average, three months older and had an extra 2,700 miles on the clock than those offered in Q4 of 2017.

There was also a significant 48% surge in numbers of diesels being sold in Q1 compared to Q4 2017, reinforcing prices are remaining strong despite the increase in disposal volumes.

The petrol market saw average prices rise 5.6% to £8,978 (£8,495 in Q4 2017) to an all-time high, due in part to a lower mileage profile (18,444 v 20,729 miles).

Jon Mitchell, Autorola’s Group Sales Director said:

“Demand for used stock has been very strong during quarter one reinforcing that franchised dealers are turning their attention to selling more used cars as new car sales continue to fall, while independent dealers are simply selling more used cars.

“Diesel prices remain strong despite the higher volumes we saw coming onto our online portal, while used petrol prices have reached an all-time high. The used market has had a very positive quarter one,” he added.

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