Analysis from automotive data experts hpi shows that savvy motorists who invested in buying an electric car could already be making a profit on a vehicle they bought just 12 months ago.
A combination of factors including the rollout of clean air zones, cheaper running costs, increased charging points, incentives to drive and wider availability from manufacturers has helped pique interest in EVs.
A car bought at one year old could be run for 12 months and 10,000 miles and be sold for more money than its purchase price. A Peugeot Ion appreciated 8.6% adding £425 to its value. The Vauxhall Ampera’s average appreciation is 5.3% or £725 in value and the most popular EV on the market, the Nissan Leaf has an average appreciation of 4% or £456 on its original value.
Hybrids too represent a savvy purchase with the Toyota Yaris Hybrid appreciating on average 2.6% or £292 and the Lexus GS Hybrid average appreciation of 0.7% or £178 on top of purchase price.
Over 60,000 new AFVs took to Britain’s roads by summer 2017 with no signs of a slowdown.
Chris Plumb, Black Book editor at cap hpi, commented: “Sales continue to soar in the EV market as drivers have weighed up the benefits of ownership such as greatly reduced motoring costs and other incentives around driving an alternative to petrol or diesel.
“Our latest analysis shows that drivers who buy the right EV can still make money on a sale after running it for a year and adding 10,000 miles. This will be a major factor in persuading more drivers to go down the EV road. EVs and plug-in hybrids provide a good balance between range and efficiency plus the economic benefits for motorists can be enormous, offering big savings on fuel and tax costs as well as much lower maintenance costs.”