Electric vehicles (EV) are showing signs of a used market recovery, with no EVs featuring among the biggest price falls in the first half of 2026, according to CarGurus.
The used car marketplace said petrol and diesel models accounted for all of the biggest price declines between January and June, marking a significant shift from the first half of 2025 when eight of the 10 fastest-depreciating vehicles were electric.
Instead, seven used EVs increased in average asking price during the first six months of the year, led by the Skoda Enyaq, which rose 10% from £20,557 to £22,576.
The Hyundai Ioniq 5 followed with a 9% increase, ahead of the BMW iX3 (+7%), Ford Mustang Mach-E (+5%), BMW i4 (+5%), Tesla Model Y (+4%) and Tesla Model 3 (+1%).
Chris Knapman, editorial director at CarGurus UK, said the data suggested consumer demand for used EVs had strengthened after several years of sharp depreciation.
He said: “As we pass the halfway point in 2026, there has been a clear shift in the used car market, most notably in the increasing consumer demand for EVs.
“One of the biggest catalysts for this was likely the sharp rise in fuel prices that happened during the spring, which made the cost advantage of going electric even harder to ignore.
“Combined with used EV prices that had already fallen a long way, it’s perhaps no surprise that demand, and therefore prices, for several popular electric cars have started to climb.”
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Renault Megane sees largest average price reduction
Meanwhile, the Renault Megane recorded the largest average price reduction among used models, falling 26% from £9,862 to £7,329.
It was followed by the BMW 4 Series (-21%), BMW 8 Series (-20%), Land Rover Range Rover Velar (-18%) and MG3 (-17%).
Seven of the 10 models with the biggest price reductions came from premium brands, with CarGurus saying asking prices across the top 10 declined by between 14% and 26%.
The analysis examined vehicles built between 2015 and 2025 with fewer than 100,000 miles and at least 100 active listings on the CarGurus marketplace between January and June 2026.
Used EVs rising in value (H1 2026)
| Model | Jan 2026 average price | July 2026 average price | Change |
|---|---|---|---|
| Skoda Enyaq | £20,557 | £22,576 | +10% |
| Hyundai Ioniq 5 | £21,017 | £22,891 | +9% |
| BMW iX3 | £25,591 | £27,336 | +7% |
| Ford Mustang Mach-E | £24,015 | £25,287 | +5% |
| BMW i4 | £28,895 | £30,268 | +5% |
| Tesla Model Y | £25,114 | £26,144 | +4% |
| Tesla Model 3 | £18,780 | £19,054 | +1% |