Used electric vehicles (EVs) are now selling for an average of £1,800 less than equivalent petrol and diesel models, according to analysis from Big Motoring World.
The used car retailer said falling EV residual values are creating a growing price advantage for buyers, with some electric models now thousands of pounds cheaper than comparable combustion-engine alternatives of the same age and mileage.
Big Motoring World analysed two-year-old vehicles available with both electric and internal combustion engine powertrains, comparing prices across eight of the most popular used models in its stock.
The study found that used EVs were, on average, £1,837 cheaper than their petrol or diesel equivalents.
Among the biggest differences was the BMW iX3, where a two-year-old example was found to cost an average of £8,854 less than an equivalent BMW X3, representing a 22% saving.
The retailer also identified an average saving of £2,813 on a used Volkswagen ID.3 compared with an equivalent Volkswagen Golf, while a used MINI Electric Cooper was £1,444 cheaper than its ICE counterpart.
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Big Motoring World sees 79% increase in used EV sales
According to the latest figures from the SMMT, used EV transactions increased by 32% year-on-year in the first quarter, while Big Motoring World reported a 79% increase in its own used EV sales over the same period.
The data highlights how falling used EV prices are helping to broaden access to electric motoring at a time when affordability remains one of the biggest barriers to adoption in the new car market.
Big Motoring World said it now stocks more than 1,200 used EVs across 40 brands, making it one of the UK’s largest used electric vehicle retailers.
Steve Archer, group financial services director at Big Motoring World, said: “We are strong advocates for electrified mobility, and this latest analysis provides consumers with yet another compelling reason to make the switch.
“With the scale and variety of our EV inventory, we’re sure to have a vehicle to suit every customer, and we have EV-specific warranty and finance packages to give added reassurance.
“The sales personnel at each of our 10 nationwide locations are expertly trained to help guide consumers to find the right vehicle for their lifestyle and budgetary needs.”