Used values for battery electric vehicles (BEVs) rose by 0.3% at the three-year mark in October, outperforming the UK used car market according to Cap HPI.

BEVs were the best-performing fuel type for the second month running

The rise for electric cars, equivalent to around £50, compares to a 1.1% average drop in overall used car values at the three-year, 60,000-mile point.

Used electric car values were also up in September, following 24 consecutive months of downturns that saw values slashed by around 60%.

BEVs are now the best-performing fuel type for the second month running, with many continuing to look good value for money and hitting sweet spots for dealers.

Derren Martin, director of valuations at Cap HPI, said: “The volume of electric vehicles selling in the trade market continues to show an upward trend. September was the second-highest volume month, only slightly trailing the record month of July this year. However, BEV values remain particularly nuanced, with some, such as the Jaguar I-Pace and Vauxhall Mokka, looking great value versus ICE equivalents.”

When analysing BEV movements by price band, vehicles priced between £5,000 and £10,000 saw an increase of 0.7%, or approximately £60. Similarly, those in the £10,000 to £15,000 range also experienced a rise of 0.7%. For vehicles priced between £15,000 and £20,000, the increase was more modest at 0.2%, or about £20.

Amongst the BEVs that saw value increases were the Citroën C4, Volkswagen ID.3 and Nissan Leaf, whilst the Tesla Model Y and Model 3 dropped in value, along with the Mini Cooper and the Mercedes-Benz EQE.

Looking at all fuel types, superminis experienced the most significant sector decline on average, down 1.4%, but this only amounts to about £150. Similar 1.2% and 1.1% declines were seen in city cars and lower-medium models, translating to roughly £100 and £150, respectively.

SUVs were also hit by a seasonal softening of prices; at three years, they were down on average by 1.2%, or about £215. Large SUVs fared the best with a 0.4% decrease, while medium and small SUVs had a 1.3% fall.

Derren Martin, director of valuations at Cap HPI, said: “Overall, October value movements can be seen as a return to normal seasonal drops, a welcome and reassuring picture for the industry, particularly after last year’s tumultuous final quarter.”