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Rising demand for small EVs sees values soar, says Cap HPI

Mitsubishi i-MIEV compact EV

Automotive data experts at Cap HPI have found that the owners of some small electric vehicles (EVs) could run their zero-emissions car for 12 months and make a profit when they sell it on.

Demand for small used EVs is soaring with some models rising in value, Cap HPI said, with the rollout of clean air zones in major cities, cheaper running costs, an increased number of charging points, incentives to drive and wider availability from manufacturers all helping to pique consumers’ interest.

The Nissan Leaf, Renault Zoe and Mitsubishi i-MIEV are among the more long-established EV models that are starting to see price rises.

Chris Plumb, electric vehicle expert at Cap HPI, said: “New sales of electric vehicles continue to gain market share and their popularity is building for buyers of used cars.

“Some of the smaller models make an attractive used buy with a low purchase price and running costs.

“Additionally, many towns and cities offer incentives for drivers of electric vehicles such as free charging points and parking.”

Cap HPI reported that the Nissan Leaf – first introduced into the market back in 2011, with the latest model offering a published range of 168 miles – can now be bought from as little as £7,500.

The Renault Zoe, which features a similar range to the Leaf, can be bought “much cheaper” with a leased battery, it said, adding: “The 100% owned vehicles hold their price but tend to be very rare”.

Mitsubishi’s compact i-MIEV EV was described as a “value for money if you are looking to enter the world of EV's or looking for a cheap second car to run”, meanwhile.

Cap HPI said: “With the manufacturers stating they can do around 92 miles on a charge they are ideal for driving to the station or popping to shops.

“These cars cost between £1.50 and £2.50 to charge and there are some running cost savings to be had. If you can find one for sale prices start around the £5,000 mark.”

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