Asger Risom
New figures show that prices for many of the UK’s most in-demand used cars have fallen sharply this year, with some models losing thousands of pounds in value.
New figures show that prices for many of the UK’s most in-demand used cars have fallen sharply this year, with some models losing thousands of pounds in value.
Luxury SUVs Now Thousands Cheaper
The Lexus RX hybrid saw the biggest fall, with prices down more than 30% compared to last year, making the premium SUV far more affordable.
Major Price Cut for Tesla Model 3
The popular Tesla Model 3 has dropped by over £4,400 in value, representing a 19% decline on the used car market.
Affordable EVs See Big Reductions
Models like the Renault Zoe and Nissan Leaf have seen values tumble by around 20–21%, helping to make electric motoring more accessible.
EVs and Hybrids Fall on Average 12.8%
According to AA Cars, nearly all of the most searched-for EVs and hybrids have experienced double-digit price drops in the past year.
Why Prices Are Falling
Experts point to a surge in supply from ex-lease and fleet vehicles entering the market, increasing choice and driving down costs.
Petrol and Diesel Values Mixed
Older petrol models like the Ford Fiesta and Focus have fallen in price, while demand has pushed up values for some newer cars, such as the VW Polo hybrid.
More Buyers Looking at EVs
AA Cars reports record searches for electric and hybrid cars as lower prices encourage more drivers to consider switching to an EV.
Cheaper Prices Could Boost EV Adoption
Falling costs may help meet the UK’s Zero Emission Vehicle targets by making electric cars viable for more households.
Barriers Remain Despite Lower Prices
Charging infrastructure, battery longevity and long-term running costs are still key concerns holding back some potential EV buyers.
