Strong demand boosts EV residuals

Used electric cars are bucking industry trends by appreciating — rather than depreciating — in value, according to research by the automotive shopping site, CarGurus. Every day, CarGurus analyses millions of data points on hundreds of thousands of UK used car listings to calculate each car’s Instant Market Value (IMV) or fair retail price. Using this data, CarGurus examined prices for the four most searched-for EVs on CarGurus.co.uk — the BMW i3, Nissan Leaf, Renault Zoe and Tesla Model S — since the start of 2017. The results showed that prices either rose or remained level for months at a time, and in all cases far outperformed the most searched-for petrol and diesel equivalents listed on CarGurus.co.uk over the same period.