Consumer interest in electric cars is soaring. The market for what the industry body, the SMMT, refer to as alternatively fuelled vehicles (AFVs). These include electric cars, plug-in hybrids and fuel cell vehicles, saw a record market share of 4.4% in June with more than 10,700 hitting the roads, a rise of 29.0%.
Over 60,000 new AFVs have joined Britain’s roads so far this year. The used market for electric vehicles has seen gains with values increasing by 7 percent this year.
Motoring expert Chris Plumb from hpi said:
“It appears to be the range extender models which is driving the recent strong performance as values of pure electric have struggled of late. The BMW i3 is a popular choice and is a great second hand buy. It brings a good level of specification and badge prestige.”
This news suggests now could be the right time to join the electric car revolution. For example, in 2015 a BMW i3 retailed for £30,925. Two years later you can pick up a 20,000 mile example for £14,260, still with one years warranty and plenty of battery guarantee too.
Alternatively, a Nissan LEAF could be a cheaper, more practical choice. The Nissan Leaf with the 30KWh battery pack is attracting higher used values than the 24kWh as it has a longer range, with an NEDC range of up to 124 miles in the LEAF 24kWh model or up to 155 miles in the 30kWh derivative.
Back in 2015 the list price of a top of the LEAF, the Tekna with the smaller 24kwh battery was £30,535. Today you could drive away in one for £9,900, again with 20,000 miles on the clock. The larger battery model retailed for £31,435 and is now available for just £12,200.
Demand for Petrol Hybrid used vehicles remains high. Used values bucked market trends in June and prices strengthened overall, moving up by an average of 0.2% at three years 60,000 miles. Certain derivatives performed particularly well such as the Toyota Prius (12-17) Plug-In which increased by 3.9%, Lexus RX (12-16) Hybrid which saw values rise by 2% as too did the Prius+ (12- ) Hybrid.