Electric values

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Nissan Leaf, 2018, charging
Electric vehicle charging
Nissan Leaf, 2018, charging
Nissan Leaf, 2018, front, static
Electric vehicle charging

THE slump in new car sales is good news for motorists looking to trade in their old car for a newer model.

And if you were one of the growing number of drivers who bought an eco-friendly, electrically-powered car in the last couple of years, you could see your green investment paying off when you trade it in.

For, according to new figures, the average selling price of electric vehicles has rocketed by 41 per cent in the first quarter of 2018 - up from an average of £13,981 in the last three months of 2017, to £19,789.

Although the numbers involved have been relatively small, electric vehicles have been the star performers in a booming used car market, according to online remarketing company Autorola which reports an overall rise in used car values of 5.3 per cent in the first quarter of the year.

According to the company's latest analysis of vehicles sold on its online portal, average prices have risen to £10,008 from £9,504 in the last quarter of 2017.

In spite of the ongoing anti-diesel campaign, Autorola reports a significant 48 per cent surge in the numbers of diesels sold in the first three months of the year but the prices fetched are only 0.3 per cent higher, compared with a 5.6 per cent rise in the average price achieved for petrol-powered models.

Jon Mitchell, Autorola UK's group sales director comments: "Demand for used stock has been very strong during quarter one, reinforcing that franchised dealers are turning their attention to selling more used cars as new car sales continue to fall, while independent dealers are simply selling more used cars.

"Diesel prices remain strong despite the higher volumes we saw coming onto our online portal, while used petrol prices have reached an all-time high. The used market has had a very positive quarter one," he added.

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