Values of used hybrids and EVs have never been this high, finds Autorola
14 January 2020
Author: Illya Verpraet
Remarketing company Autorola found that in the fourth quarter of 2019, prices of used hybrids and EVs reached an all-time high.
Average prices online rose from £12,594 in Q3 to £19,021 in Q4 as a result of strong demand, low supply and a fall in average age and mileage from 43 to 21 months in Q4.
Jon Mitchell, Autorola UK's group sales director, said: "We are seeing an unprecedented demand from the trade for used hybrids and EVs. All part exchanges and unwanted or replica stock that reaches our online platform are snapped up quickly thanks to a rise in consumer demand".
"In Q4 stock was in short supply, which helped the hike in average prices. What we are experiencing with both hybrids and EVs is an inconsistent volume coming into the market."
"The model mix coming into the market also changes from quarter to quarter which makes it more difficult for dealers to predict prices and availability."
Prices for used petrol cars also did well, rising in Q4 by £264 to £10,364, while diesel prices fell by fell by £181 to £12,305.