The average retail price of a used EV has dropped from 60% to 55.29% of its original new price since the start of 2025, according to Indicata.
The analysis company said this was the sharpest fall seen for any fuel type this year.
It has, however, also reported strong sales of the vehicles, said to have hit record levels in June, with EVs now making up 6.39% of all used car sales, and more than 13% of those less than four years old.
Indicata UK head of sales Dean Merritt said: “Used EV sales are still climbing, but it’s clear dealers are having to be more competitive on price to maintain that growth. What’s worrying is that supply is set to increase further, and values could come under even more pressure.
“With rising volumes of nearly-new electric vehicles and limited demand growth, prices are vulnerable. There’s still caution across the wholesale market about stocking the wrong EV or too many at once.
“We’re seeing more interest from our 2,000+ buyers in sourcing EVs, but there’s still a nervousness about resale values and how quickly stock will turn.”
