After months of plunging prices, used electric car values have finally started to settle, according to car valuations provider Cap HPI. The organisation reports that EV pricing has plateaued across the board, with some models even reversing the trend.
For example, the MINI Cooper Electric is up 7.7% on last month while the Volkswagen ID.3 has risen 5.1%, signalling renewed consumer confidence in the sector. This marks a significant change from earlier in 2025, when EV prices were tumbling at unprecedented rates and many buyers were left wondering whether to hold off.
CAP’s September data suggests the panic is over. An average three-year-old, 30,000-mile car moved just 0.1% downwards month on month, with SUVs the hardest hit at about 1% lower. Auction volumes have dipped, but conversion rates are up as trade buyers adjust to the new reality.
The green shoots of recovery?
Percy Lawman, Parkers’ used car valuation expert, said: ‘For much of this year buyers have watched used EV prices collapse, and it dented confidence. Now that values are stabilising, we can see signs of recovery, especially with the more popular models. That’s an encouraging signal for consumers who want a good deal without worrying the market will crash further.’
This is the clearest evidence yet that the used EV market is finding its footing after a turbulent year, and CAP expects EVs to remain a hot topic in showrooms as buyers weigh up lower prices against long-term running costs.
What this means for you
If you are considering your first EV, now could be a good time to buy. Prices for many models are still far below where they were a year ago, but the worst of the free-fall seems to be over. That makes them more attractive for budget-conscious buyers who were nervous about losing money.
Percy Lawman adds: ‘Shoppers waiting for prices to fall further might find themselves disappointed. The big drops have already happened, and we are now seeing signs of stability. If you spot a car you like at the right price, it is worth taking the plunge.’
Examples like the MINI and ID.3 show that popular EVs are already bouncing back, so waiting too long may mean missing the bottom of the market. Deals are still out there, but you will need to act quickly and shop around. For used car buyers in general, the message is stability. ICE values are barely moving, which means there are fewer risks if you buy now compared with earlier in the year.
Editor’s view: is the market about to settle down again?
This is welcome news. EVs will only succeed if they are priced fairly and feel like good value, and the recent collapse in used prices showed just how out of kilter things had become. Now that values are stabilising, consumers have the chance to grab a bargain without worrying the floor is about to drop again.
It is especially encouraging to see some prices climbing, because these are mainstream models that buyers actually want. If they are rising, it shows confidence is returning to the used EV sector. It’ll be interesting to see if this stability will also affect the influx of Chinese EVs we’re currently enjoying – I suspect not.
I remain convinced that anyone who drives down prices is on the side of the buyer. Stability in the used market means fairer deals all round, a more solid future view, and that is exactly what Parkers is here to champion.
Keith Adams – Editor, Parkers
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