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AA Cars has highlighted the decline in pricing of the most popular second-hand EVs and hybrids.
On average in the last year prices have fallen by 16%. Toyota Priuses (-31%) have dropped the most in value, followed by Hyundai IONICs (-30.2%) and Nissan Leafs (-26%).
James Hosking, director of AA Cars, said: “The cost of a brand new EV or hybrid is unaffordable for many families and even second-hand prices can put people off.
“However, we are seeing prices come down significantly in the used car market and align more closely with the cost of traditional petrol and diesel cars.
“This convergence in pricing should strengthen the appeal of going electric, as we know it has proved a major stumbling block for a lot of prospective private buyers.”
Increased supply of used stock from car leasing companies and rental firms and sluggish private sales have impacted prices in the EV market.
Pricing for the most searched for EV or hybrid car on the platform in the last year, the Toyota Yaris, dropped -12.3%.
The Volkswagen Golf (1.5%) and Toyota RAV4 (1.0%) were the only two cars to rise in value since Q2 2024.
Hosking said: “There are some great deals to be found on second-hand EVs and hybrids if you do your research and shop around to find the best prices.
“Buyers should start by having a clear understanding of what represents good market value and looking at what other people are paying for similar makes and models.”