The residual values of electric vehicles are moving closer to those of traditional diesel cars as the used car market becomes more accustomed to the technology, Glass’s has claimed.
According to the company, a Vauxhall Ampera Electron’s residual value after 3 years and 60,000 miles of 27.58% is only slightly behind the Vauxhall Insignia SRI CDTi, which would have a residual value of 34.56% in the same circumstances.
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Similarly a BMW i3 extender Suite’s residual value at 3 years and 60,000 miles is 39.11%, compared to a BMW 320d Sport’s 43.46%.
Rupert Pontin, head of valuations at Glass’s said: "Clearly, there is still a difference here between EVs and diesels but there are signs that it is closing all the time. Crucially, when the overall running costs of an EV are taken into account, factors such as savings on fuel mean that they may beat traditional models."
According to Pontin, Nissan’s announcement that a new battery pack for the Leaf EV would cost 5,000 could have a positive effect on overall EV residual values.
He said: "RVs of the Leaf are among the poorest of the EVs at around 29% at thee years 60,000 miles because there are quite a number around. However, removing the mystery surrounding the battery pack pricing took away a large degree of uncertainty from forecasting its RVs. While 5000 euros is expensive, it is something that can be planned into a budget when you are making an RV forecast."
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