AVERAGE used values remained static through September although demand for electric vehicles saw values rise 0.9% according to analysis from automotive data expert cap hpi.
Values for pure battery electric cars increased for models like the Renault Zoe, BMW i3 and Tesla Models S and X.
At three years and 60,000 miles, average used values didn’t move in September, while newer cars have increased by a negligible 0.1% at the six month and one-year points. Older cars have dropped slightly, but the 0.3% decrease at five-years-old is again negligible.
Derren Martin, Head of Current Valuations at cap hpi said: “With retail demand unlikely to dissipate anytime soon and supply lower than normal, there is the potential for prices not to drop by as much as they have done at this point in previous years.
“The average drop during October over the last 4-years was 1.7% at the 3-year point, with it being as high as 2.2% in 2015. Last year it was just -1.2% and this year there is the possibility it will not even drop by that amount.
“It is fair to predict a strong, stable used car market over the coming weeks, although as always supply and demand dynamics need to be viewed at a micro level.”
City cars saw values rise at one-year-old, by 0.4%, on average, but older, higher mileage three-year-old cars were not as desirable and fell by 0.3%.
SUVs can increase in value due to winter approaching, this year, with the flow of stock into the market not being heavy in September, and demand being healthy, average values have stayed level or indeed increased slightly.
Volume models such as the Ford Ecosport and Vauxhall Mokka went up in value during September, both being particularly desirable as used cars since they first came to market.
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