Values for used battery electric vehicles (BEVs) have climbed for the first time in eight months, new data from Solera Cap HPI shows.

Overall UK used car values dropped slightly in May, but BEVs delivered the strongest performance during the month, with values at the three-year point rising by 1.2%, or around £220. It marked the first positive monthly movement for BEVs since September last year and the strongest uplift since September 2022.

Solera Cap HPI said the improvement reflects growing confidence in the used EV market as stronger retail demand begins feeding back into wholesale activity – Indicata reported last week that demand for used EVs is outpacing supply.

Chris Plumb, head of current valuations at Solera Cap HPI, said dealers are reporting improved enquiry levels and faster stock turn on well-priced electric models, particularly those positioned below £20k.

Of all BEV models assessed at the three-year point, 77% either increased in value or remained unchanged during May. Among the strongest performers were the MG5, up 6.5%; the Mini Cooper, up 6.4%; the Polestar 2, up 6.1%; and the Tesla Model 3, which also rose by 6.1%.

Plumb continued: “There are clear signs that demand for used BEVs has strengthened over recent weeks. Retailers are seeing more consistent consumer interest, and that is now feeding back into trade values as buyers return to the market with greater confidence.

“Some of the models that came under the greatest pressure earlier in the year are now starting to look particularly good value for money, which is helping stimulate retail demand.”

Across the wider market, values at the benchmark three-year, 60,000-mile point declined by 0.9% during the month, equivalent to around £195. While values softened, the movement was still ahead of seasonal norms, with the long-term average May-to-June movement sitting closer to -1.5% when the unusual Covid-affected years are excluded.

The latest figures also marked the second consecutive month in which used values outperformed seasonal expectations after a weaker period earlier in the spring.

Retail trading conditions remained broadly stable throughout May, although dealers reported a more cautious and selective consumer, particularly for higher-mileage stock requiring significant preparation work. Preparation costs and longer refurbishment lead times also continued to influence buying behaviour across wholesale channels.

At one year old, values fell by 0.7%, or around £250, while older vehicles saw steeper declines. Five-year-old vehicles dropped by 1.3%, with 10-year-old stock down 1.5%.

Diesel remained the weakest-performing fuel type, with values at the three-year benchmark falling by 1.9%, or around £420. Dealers and trade buyers continue to show caution towards older diesel stock, particularly where running costs and weaker consumer demand are affecting retail appeal.

Large Executive models recorded the strongest sector performance with values rising by 0.6%, while Convertibles increased by 0.5%. Executive vehicles saw the sharpest decline, down 2.7%, driven largely by weaker diesel demand.

Looking ahead, Solera Cap HPI expects the market to remain stable through June, although elevated stock levels are likely to maintain pressure on poorer condition vehicles and older diesel stock.

Plumb added: “The market remains disciplined rather than weak. Clean, retail-ready stock continues to attract strong interest, but buyers are becoming increasingly selective and value-conscious. BEVs are currently the strongest-performing area of the market, and demand remains healthy where pricing is realistic.”

April also breaks records for UK used EV market

MarketCheck has published figures showing that April 2026 was another record-breaking month for the UK used EV market.

A total of 34,932 used electric vehicles were sold across the UK during April, the highest monthly figure ever recorded by used car market data specialist. This surpasses the previous record of 32,880 set in March 2026, continuing the extraordinary growth seen in the second-hand EV sector.

The figures highlight the rapid pace at which the used EV market has expanded over the last three years. Monthly sales in 2023 typically ranged between 7,000 and 8,500 vehicles. By mid-2025, volumes had risen beyond 20,000 per month, before accelerating sharply in early 2026.

Alastair Campbell, MarketCheck UK, commented: “The used EV market continues to break records month after month. April’s figures are another major milestone, with nearly 35,000 vehicles sold across the UK.

“What’s particularly striking is the pace of growth. In just two years, monthly used EV sales have more than tripled. Greater affordability, improving consumer confidence and a much wider range of second-hand stock are all driving demand higher.”

Campbell said events in the Middle East, with associated fuel increases, have undoubtedly played a large role in these market developments.

“It is also important to note that part of this increase will be as a result of some three-year-old cars now coming off initial company leases,” he spotlighted.