Prices of the UK’s most popular used electric and hybrid vehicles rose in Q4 2024 which signals softening of market volatility, according to AA Cars.
The average cost of the top 20 most searched for EVs and hybrids crept up 1% to £19,143 in Q4, compared with a 16% annual drop in Q3 2024. However, prices are still 10% lower than the same period in 2023.
James Hosking, Director of AA Cars, said: “More than half of the most popular EVs and hybrids on our platform have edged up in value over the past three months, suggesting we may be starting to turn a corner.
“Despite the recent uptick, there is still a great deal of value out there in the market and huge discounts available to sellers as supply continues to outpace demand.
“Used petrol and diesel car prices are more robust, and although some models have seen large price swings over the past year, there is generally less fluctuation and smaller savings to be had.”
The biggest price risers since Q3 2024 are the Lexus RX (9%), Toyota Camry (7%) and Toyota Prius (6%), while the Toyota Yaris remained most popular of all EVs and hybrids.
The biggest falls in pricing were experienced by the Nissan Leaf (23% fall), since the final quarter of 2023, the Renault Zoe (22% fall) and the Mitsubishi Outlander (20%).
