Good demand helped slow used car value drop in May

Good trade demand for ex-fleet used cars during May, particularly for petrol cars, led to an average value drop of just 0.9% (£210) for a three year, 60,000 mile car, according to Cap HPI.

Petrol-engined cars reduced by just 0.4% or £135. Diesel continued to split further away from petrol for the fifth consecutive month and fell by -1.1% or c.£210.

In contrast, the average value of used battery electric vehicles at 3yr/60k continued to fall at the fastest pace, with May’s 3.6% or £785 drop marking the 21st consecutive month of falls for pure electric cars.

The cumulative decrease in BEV values amounts to approximately 57%, compared to petrol decline of around -12% over the same period.

Plug-in hybrids (PHEV) fared better, with a 1.1% or £285 fall, and pure hybrid declined just 1.0% or £200.

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