Used electric cars and petrol models reached near price parity for the first time in Q1 2026, according to Autorola, as falling EV values and rising petrol prices brought the two powertrains to almost the same average wholesale level.
Analysis of vehicles sold by Autorola to online wholesale buyers found average used petrol prices rose 5.1% quarter-on-quarter, up £768 from Q4 2025 to £15,727 in Q1 2026. Over the same period, average used EV prices fell 9.1%, down £1,558 to £15,486. That left the two vehicle types separated by just £241, marking the smallest price gap between the two fuel types recorded by Autorola.
Used EV prices converge
The figures also suggest used EV buyers were able to secure newer vehicles with lower mileage for less money than comparable petrol cars.
Autorola said the average used EV sold in Q1 was 32 months old with 20,002 miles, compared with 37 months and 22,606 miles for the average used petrol car.
That means buyers were purchasing a younger and lower mileage used EV for less than a used petrol equivalent, underlining how rapidly the used market is shifting as EV supply grows.
EV auction demand rises
Autorola also reported a sharp increase in buyer demand for used EVs during the quarter. Its market share of used EV sales rose to 10.4% in Q1, up from 5.4% in Q4 2025, as bids strengthened across its online wholesale platform.
“We have seen a major increase in bids for used EVs on our online MarketPlace portal with sales nearly doubling in just a three-month period. This has been helped by used EV prices falling alongside an increase in volumes reaching auction following the launch of the new 26-plate registration plate in March, while the increase in ICE fuel prices could have also contributed to their popularity,” explained Neil Frost, Autorola UK’s MD.
Frost said the latest figures mark a significant milestone for the used market as EV affordability improves and wholesale demand strengthens.
“We have seen price parity on many new EVs and petrols for a while now, but this is the first time we have witnessed it on used cars. It feels like another step change in popularity for used EVs,” he added.
Ensure you always receive AM insights. Make us a preferred source of news on Google