EVs Sold In Britain Lose Two Thirds Of Value In A Year

Written by Paul Homewood on July 2, 2025. Posted in Current News

This is a warning for anybody stupid or naive enough to buy an EV

Last week the Daily Mail carried an interesting piece about electric vehicles sold in the UK:

Some electric cars are worth as little as a third of their initial price – the equivalent of shedding £26,000 – after just 12 months, with This is Money revealing the 20 models with the most appalling residual values.

EVs in general have suffered catastrophic depreciation since the end of 2022 when a cocktail of issues sent used prices into a downward spiral.

This perfect storm hit almost simultaneously, involving a cost-of-living crisis, rocketing energy prices, hard-hitting media coverage of EVs, an oversupply of vehicles entering the second-hand market, and Tesla slashing new model prices.

It quickly brewed into a destructive tornado for used electric car values.

Three years later, this punishing depreciation is still hitting EV values – and to the tune of tens of thousands of pounds for owners who bought them outright and leasing and financing companies burdened with undervalued vehicles, according to data shared with This is Money and MailOnline.

The problem will only get worse as more EVs appear on the second hand market. Three years ago 267,000 BEVs were sold in the UK. Last year that had risen to 381,000.

But there is no evidence that demand for second hand EVs has risen in the meantime. The laws of supply and demand cannot be altered.

Some within the automotive industry are saying that in a year’s time, you will be lucky to give away an electric car.

See more here notalotofpeopleknowthat

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