Value of used electric vehicles rise

There has been a 41 per cent increase in the average selling price for electric vehicles in the first quarter of trading in 2018.

According to the latest analysis of vehicles sold on Autorola UK’s online portal, the price of electric vehicles is up to £19,789 from £13,981 in Q4 2017.

However, the number of EVs sold was relatively small, but Autorola states that it shows dealers are beginning to consider EVs to add to their stock mix.

Diesel vehicles had a slight increase (0.3 per cent) 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 has also been a 48 per cent increase in the number of diesels being sold in Q1, in comparison to Q4 of 2017.

The petrol market saw average prices rise 5.6 per cent 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 UK’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.”