Used EV and hybrid prices call by up to 31% as buyer choice surges

Prices for Britain’s most in-demand used electric vehicles have tumbled by as much as 31% over the past year, according to the latest AA Used Car Index.

Almost all of the top electric and hybrid models listed on the platform recorded double-digit price drops in Q2 2025.

The Lexus RX (hybrid) saw the steepest annual fall, with prices falling significantly by 31%, while the Renault Zoe dropped by 21% and the Nissan Leaf by 20%.

Overall, the average price of the most searched-for EVs and hybrids on the AA Cars platform fell by 12.8% year-on-year.

That marks a further acceleration in price falls compared with Q1, and reflects a second-hand EV market that is rapidly expanding as more ex-lease and ex-fleet electric vehicles reach the used forecourt.

The downward pressure on prices is giving used car buyers access to models that were previously out of reach, including the Tesla Model 3, which has lost over £4,400 in value over the past 12 months.

This wave of depreciation is happening just as pressure builds on the Government to hit its 2030 zero-emission vehicle targets. With new EVs still out of budget for many households, the second-hand market is fast becoming the most realistic route into electric motoring.

AA Cars data suggests that the growing affordability and choice are already shifting consumer behaviour, with record levels of EV searches and more drivers weighing up electric and hybrid options as prices continue to fall.

While electric vehicles have seen consistent year-on-year declines, some petrol and diesel models have bounced back in price. The Volkswagen Polo (hybrid) rose 9.4% annually and 3.8% over the quarter, making it one of the best-performing conventional cars on the platform.

The Vauxhall Corsa, now the UK’s most searched-for used petrol or diesel car, saw prices rise 7% year-on-year.

The market remains highly variable. Among petrol and diesel models, the Ford Fiesta dropped 11.7% in value over the past year, the Ford Focus fell by 6.6%, and the Ford Kuga (hybrid) lost nearly 6% in the last three months alone. Overall, the average price of the most popular petrol and diesel cars on the AA Cars platform increased slightly by 1.1% year-on-year, masking some of the more dramatic movements seen in individual models.

James Hosking, Director of AA Cars, said, “Used EV prices have fallen off a cliff in the past year, and for drivers who’ve been priced out of electric motoring until now, this is a genuine turning point.

“We’re seeing a growing wave of supply coming onto the used market, particularly as fleets and leasing firms de-fleet early-generation EVs and hybrids, and that’s giving buyers more choice at more accessible prices.

“Our data shows that the price of almost every top EV or hybrid has dropped by double digits over the past 12 months, with some premium models down by more than 30%. It’s possible that some of this fall could be due to the age of EV models on sale getting higher.

“That kind of price movement is bringing greener vehicles within reach of thousands more households and could help to convert curiosity into action.

“The challenge is making sure buyers have the confidence to go electric. Concerns around charging access, battery range and long-term running costs haven’t gone away, and while falling prices are helping to shift EVs from a niche to a more mainstream choice, greater support is still needed to turn interest into long-term adoption.

“The Government’s Zero Emission Vehicle (ZEV) mandate means nearly a third of all new cars sold next year must be fully electric, but success hinges not just on supply; it depends on building real, lasting consumer demand. The second-hand market is crucial to that journey, especially for private buyers who can’t stretch to a brand new model.

“Petrol and diesel values, meanwhile, remain mixed. We’ve seen strong demand for newer stock like the VW Polo, but prices continue to fall on older models such as the Ford Fiesta. This volatility shows that while headline prices may be stabilising, buyers are still being highly selective and savvy.

“Ultimately, the used market is a mirror to consumer confidence. The drop in EV prices will help accelerate the shift to zero-emission motoring, but continued investment in infrastructure, clear policy direction and compelling finance options will all be critical to turning this short-term price trend into a long-term behaviour change.”