Hybrid and EV values up while PHEV and diesel decline

Used hybrid and electric vehicle (EV) values have risen so far in September, while plug-in hybrid (PHEV), petrol and diesel values have fallen, according to Solera cap hpi.

Solera cap hpi's latest market data shows hybrid values increased by 0.5% and EV values by 0.3%, while PHEV values fell by 0.8% at the three-year age point. It attributed the diesel decline – 0.6% at the same age point – to high pump prices. The average value of a three-year-old diesel car has now fallen for five consecutive months. Petrol values declined by 0.5% so far in September.

Market-wide, the average value of a three-year-old used car fell by 0.3%, following a 0.9% decline in August. One-year-old car values were down by 0.2%, five-year-old values by 0.8%, and 10-year-old values by 2%.

Chris Plumb, head of current valuations at Solera cap hpi, said: "Fuel prices are clearly influencing what people are prepared to buy. Diesel at around 195p a litre is difficult to ignore, particularly when it is so much more expensive than petrol. Dealers know that and are being more selective about the diesel cars they buy."

Plumb said hybrids had had a good month and battery electric vehicles were continuing to settle down after several years of sharp value movements. "There are far more used BEVs coming back into the market, but buyers are taking that extra stock," he said. "Clean cars at the right price are still selling."