logo logo
05 September 2023, 21:06

The Used EV Price Crash Revealed

Used EV prices have taken quite a knock over the last 12 months.

CAP HPI, the industry trade pricing expert shared some data with Car Dealer UK which makes for hard reading.

The biggest loser was The Seat Mii electric which has lost 50.3 per cent of its value since October 2022. In the same period the Renault Zoe is down 44.2 per cent and the Nissan Leaf has lost 42.7 per cent.

The Audi e-tron GT is the biggest loser in cash terms dropping an average of £27,629, then the Mercedes Benz EQC which has lost £20,275 followed the Audi e-tron Sportback is down £18,929.

For comparison, over the last 12 months, petrol cars have actually risen 0.6 per cent, diesels are up 0.5 per cent, but hybrids are down 6.5 per cent and PHEVs have dropped 7.4 per cent.

While the fall in used EV prices has been well documented this year, this latest data shows the true extent of the crashes over the last 11 months – and the worst offending models.

Used electric cars statred to fall off a cliff in October last year amid the cost of living crisis, shortly after Liz Truss’s disastrous mini Budget caused turbulence in the financial markets.

Prices continued to tumble as energy prices soared and negative national press coverage began to appear around queues at charging points.

In January, Tesla made the dramatic move to cut the price of its new Model 3 and Y and this accelerated the falls across the EV market as other electric car prices realigned. 

Fortunately, the huge falls have now begun to tail off, though. In August only one electric car was on the list of used car prices that dropped the most with diesels dominating the top 10.

Derren Martin, Cap HPI director of valuations, said ‘There are some real EV bargains at the moment – some are cheaper than the ICE equivalents.’

Cap HPI’s research shows that while Teslas dropped hard and fast at the start of the year after the manufacturer slashed new prices, their fall in value has not been the worst.

The Model 3 has lost 33.3 per cent of its value in the last 11 months and the Y has lost 30 per cent – both outside of the top 10 falls in terms of percentage and cash loss terms.

Notes to the editor

For further information please contact:

Sonia Mattis or Kevin Stewart at

Keep up-to-date with on Twitter; @Carsvansbikes

or follow us on Linkedin:

About CarsVansandBikes is a digital advertising website which enables the motorist to easily find a pre-owned or new car, van or motorbike. We live the mantra As easy as CVB.

CVB does not accept advertising or sponsored listings, therefore all vehicles listed are presented without influence or bias – unlike other similar platforms. makes its money through fees paid by motor dealers advertising their vehicle stock. All advertising stock is catalogued in a fair and transparent manner.

When launched in 2021, CVB was the first automotive advertising platform with no extra charges. Connecting sellers with potential customers, provides comprehensive vehicle details rather than solely listing prices. By providing all inclusive access to information, CVB assists motorists to make better informed decisions.

Completely free of charge, private motorists pay nothing for services.

CarsVansandBikes Limited trades as