Revealed: the regions with the cheapest used electric cars

New data has revealed the UK regions with the highest and lowest used prices for electric cars.

Prices of second hand EVs have dropped across the nation but the average cheapest price varies by up to £5,809 between regions, according to research by Marketcheck.

The automotive data firm analysed sales information from 11,500 dealers and found that while there are large regional differences, used EVs are becoming ever more affordable as more and more reach the second hand market.

Its data showed that England’s South East is the cheapest region for used EVs, with an average price of £22,612 in August 2024. In contrast, in Yorkshire and the Humber the average price is £28,421, making it the most expensive region in the country and the only region where prices have risen in the last 12 months.

The firm’s Alistair Campbell said the latest findings showed a ‘thriving’ market where used EVs were becoming more available and newer on average, as well as cheaper.

The national average price for a used EV is now £24,577 – an 11.5% drop on last August, when it was £27,762. Valuation experts at Cap HPI reported in August that the average used EV was now cheaper than an equivalent petrol or diesel model.

Prices have been dropping as availability of used EV has increased in every part of the country. With most PCP or leasing deals contracts ending after three years, the market is seeing an influx of electric cars purchased in recent years. At a national level, the volume of cars available for sale has jumped 66%, from 22,064 in August 2023 to 36,789 in 2024. However, the East Midlands saw a jump of 120% and England’s North West recorded a similar increase of 119%.

Completed sales numbers are up by even more – rising 78% nationwide. The greatest volume of sales was in the South-East, where they doubled to 2,442 in August 2024, oustripping even Greater London, where just under 2,000 were sold. In contrast, Northern Ireland saw just 205 completed sales this August, although that was still a 43% increase on last year.

Alastair Campbell from Marketcheck UK commented: “These statistics indicate that the used EV market is thriving. Although some regions still lag, used EVs are becoming cheaper, newer, and more widely available overall. There are signs that the rest of the country is starting to catch up with Greater London, as the use of used EVs spreads more evenly beyond the capital.”