{"id":244329,"date":"2023-11-06T15:48:59","date_gmt":"2023-11-06T15:48:59","guid":{"rendered":"https:\/\/automotobuzz.com\/?p=244329"},"modified":"2023-11-06T15:48:59","modified_gmt":"2023-11-06T15:48:59","slug":"used-electric-car-prices-have-considerably-fallen-with-models-25000-cheaper","status":"publish","type":"post","link":"https:\/\/automotobuzz.com\/car-reviews\/used-electric-car-prices-have-considerably-fallen-with-models-25000-cheaper\/","title":{"rendered":"Used electric car prices have considerably fallen with models \u00a325,000 cheaper"},"content":{"rendered":"

GB News guests debate using electric cars in 2022<\/h3>\n

Used electric car prices have dramatically fallen with some vehicles down over \u00a325,000 in 12 months.<\/p>\n

Costs have plummeted since October 2022 with some models losing over half their total valuation since last year.<\/p>\n

According to experts, the drop is creating an \u201caffordable option\u201d for cash-strapped motorists wanting to make the EV switch.<\/p>\n

The decline has been blamed on a surge in second-hand EVs hitting dealerships across the UK.<\/p>\n

Speaking to Express.co.uk, Fiona Howarth, CEO of Octopus Electric Vehicles said: \u201cDemand was just outstripping supply, people couldn\u2019t make them quick enough.<\/p>\n

READ MORE <\/strong> \u2018I\u2019m a car expert – used electric car prices will soon fall for this reason\u2019<\/strong><\/p>\n

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\u201cNow we are seeing more cars coming through so the lead times have come down considerably.<\/p>\n

“We are starting to see some second-hand cars come out now as well. They are coming off lease from a few years ago. That is starting to create a second-hand market which is exciting.\u201d<\/p>\n

Data from CapHPI shows around 30 electric cars have dropped more than 30 percent of their value in the last 11 months.<\/p>\n

The Seat Mii had the sharpest decline with its price down a whopping 50.3 percent. The car is valued at around \u00a39,775 today compared to over \u00a318,500 last October.<\/p>\n

The Renault ZOE was down 44.2 percent while the Nissan Leaf and Volkswagen UP have dropped more than 42 percent of their value.<\/p>\n

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