BMW i3 values on the up
We focus a lot on new cars, but what if your budget only extends to a used car? And especially when that second-hand car that you’re going to buy is going to be an electric vehicle (EV)?
Well, in the UK at least, used EV prices are on the up, and for some models, quite significantly too.
Car valuation service, cap hpi, says the value of pre-owned EVs has increased by a strong 7% this year.
This is being driven by stronger demand for alternatively fuelled vehicles overall with sales of new EVs up 29% on 2016.
But it isn’t just any electric vehicle that buyers are trying to get into, according to Chris Plumb from cap hpi.
He says those fitted with a range extender, such as the BMW i3, are the vehicles of choice.
“Interestingly it appears to be the range extender models which is driving the recent strong performance as values of pure electric have struggled of late.
“The BMW i3 is a popular choice and is a great second hand buy. It brings a good level of specification and badge prestige.”
The data shows a used BMW i3 with range extender is now worth, on average, about £18,000 ($29,500 AUD), compared to the roughly £14,000 ($23,000 AUD) value of the pure electric version.
While the Nissan Leaf with the 30KWh power train is attracting higher used values than the 24kWh as it has a larger range.
The difference? The 24kWh Leaf is bringing prices of about £10,000 ($16,000 AUD) opposed to the higher capacity model’s £12,200 ($20,000 AUD).
And UK demand for hybrid used vehicles is also remaining high, or even increasing.
The data shows the overall value of used EVs is on average up by about 0.2% this year.
The hybrid most in demand in the UK at the moment is the plug-in Toyota Prius (2012-17) which has enjoyed a healthy 3.9% jump in value on the used car market.