Page 5 - Ian Plummer News Today

Drivers considering taking the first step on their electrified driving journey have never been in a better position to benefit from falling EV prices than in 2024, says Auto Trader.

‘Unsustainable levels of depreciation’ as used prices drop 23pc in one year

While existing players will be fighting for market share with new zero-emission vehicles mandate, Chinese cars will increase competition

Intense price competition is predicted in the UK’s electric car market, driven by new government mandates and Chinese entrants vying for significant market share.

Electric cars lose as much as half of their value after just three years on the road, new figures show, as the rate of depreciation far outstrips petrol equivalents.

Used EVs are now becoming a viable alternative to new models with sub £20,000 electric stock accounting for 25% of the market

Some 1.9 million new cars were registered in 2023, according to preliminary data.

Some 1.9 million new cars were registered in 2023, according to preliminary data.

Some 1.9 million new cars were registered in 2023, according to preliminary data.

Some 1.9 million new cars were registered in 2023, according to preliminary data.