Asger Risom
EXCLUSIVE: Motorists could notice price cuts on these second-hand cars due to a brand new rule introduced this July.
EXCLUSIVE: Motorists could notice price cuts on these second-hand cars due to a brand new rule introduced this July.
New Car Grant Could Shift the Market
The UK’s newly reintroduced EV grant offers up to £3,750 off new electric cars under £37,000—potentially impacting second-hand pricing too, say experts.
Cazoo: “Used Prices Will Follow”
Online car marketplace Cazoo predicts that lower new EV prices will push down used car prices to remain competitive, benefiting budget-conscious buyers.
Curiosity Sparks Demand
Cazoo CEO Barry Judge says the scheme may boost awareness of used EVs, encouraging more drivers to explore cheaper, pre-owned electric alternatives.
Two in Five Used EVs Now Under £20K
According to market data, nearly 40% of used electric vehicles are priced below £20,000—a figure likely to grow as new stock enters the market.
Some EVs Selling for Under £5K
Second-hand platforms now list EVs for as little as £5,000, offering an affordable entry point for drivers looking to go electric on a budget.
Used EVs Now Rival Petrol Prices
Top electric models are now often priced the same—or even lower—than petrol or diesel cars, changing how many buyers compare their options.
Supply Driving Down Prices
Experts say the growing number of EV listings is helping push prices down. More models on offer equals more pressure to stay competitive.
Average EV Price Drops to £24,185
Cazoo data shows average used EV prices have dropped 25% since their October 2023 peak, and 8% since June 2024, now sitting just below hybrid prices.
Alt-Fuel Stock Hits Record High
Hybrids and EVs now make up 18% of Cazoo’s platform inventory—giving buyers greater choice and value than ever in the used car market.
