Used EVs and petrol cars hit price parity in Q1, finds Autorola
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Used electric vehicles and petrol cars have reached near price parity in the UK for the first time, with average wholesale prices differing by just £241. This shift is driven by falling EV values and rising petrol prices, making used EVs more affordable and attractive to buyers.
Used electric vehicles and petrol cars have reached near price parity in the UK. Average used petrol prices rose 5.1% to £15,727, while used EV prices fell 9.1% to £15,486. The price gap between the two is now just £241. Used EV buyers can now purchase newer vehicles with lower mileage for less money than comparable petrol cars. Autorola reported a sharp increase in buyer demand for used EVs, with its market share rising to 10.4% in Q1. The company saw a major increase in bids for used EVs on its online platform, with sales nearly doubling in three months.
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