Average selling prices for electric vehicles shot up 41% in the first quarter of 2018, outperforming the market, while diesel values held steady.

Q1 saw a 41% increase in the average selling price for used EVs

Analysis of vehicles sold on Autorola UK’s online portal for Q1 showed that EV values were up to £19,789 from Q4 2017’s £13,981. However, changes in average age – which fell from 15 months to 9 months – and mileage, which almost halved from 6,086 to 3,662 – contributed to the price increase.

Overall values remained strong, rising 5.3% to £10,008 during Q1 from £9,504 in the last quarter of 2017.

Diesel values held firm – up 0.3% to £11,158 – despite a 48% increase in disposal volumes as well as changes in age/mileage. Cars offered in Q1 were, on average, three months older and had an extra 2,700 miles on the clock than those offered in Q4 of 2017.

And used petrol prices reached an all-time high at £8,978 – up 5.6% from 8,495 in Q4 2017, due in part to a lower mileage profile (18,444 v 20,729 miles).

Jon Mitchell, Autorola UK’s group sales director, said: “Demand for used stock has been very strong during quarter one reinforcing that franchised dealers are turning their attention to selling more used cars as new car sales continue to fall, while independent dealers are simply selling more used cars. Diesel prices remain strong despite the higher volumes we saw coming onto our online portal, while used petrol prices have reached an all-time high. The used market has had a very positive quarter one.”