Skyrocketing petrol and diesel prices see used EV values bounce by up to 28%

News

The value increases align with a 50% jump in searches for used EVs as UK motorists eye a switch from diesel and petrol.

GE

George East

4 November 2026, 10:06 GMT · 2 min read

The newest data from vehicle valuation experts Solera cap hpi has found that prices for a number of used EVs have bounced in light of increasing fuel costs.

At the time of writing, diesel costs around £2.00 a litre, while petrol sits somewhere around the £1.70 mark. The increasing fuel prices have also led to a 50% jump online in used EV searches, as UK motorists seek to save money by switching from internal combustion to electric.

Solera cap hpi’s latest information outlines a market adjustment, which shows a partial reverse of the steep deprecation that previously hit the used EV market.

The biggest winner is the Mini Electric. The average trade value of a three-year-old model with 30,000 miles on clock increased by 28.3% from £9,905 to £12,710 – a £2,805 jump since spring this year.

Using the three year, 30,000-mile average as a yardstick, the Tesla Model 3 and Polestar 2 have each grown in value by 20.9%, with the Tesla increasing by £3,813 to reach £22,188. The Polestar has increased by £3,765 to £21,822.

The Cupra Born was up by 19.9%, and the Subaru Solterra 19.3%. Costs for relatively inexpensive used electric cars also grew, with the Peugeot e-208 rising by 17.4% to £11,262. The MG4 gained by 15.4% to increase to £13,110.

Despite the value changes, Solera cap hpi’s head of valuations, Chris Plumb, said that the latest figures aren’t necessarily a sign of an impending price surge across the used EV market.

“What we’re really seeing is a recovery from previously depressed positions rather than a market running away with itself,” he explained. “In many cases these vehicles still represent excellent value for money and are becoming increasingly attractive to used car buyers as confidence in EVs continues to improve.

“It’s important to look beyond the percentages. Even after those increases, many of these vehicles remain relatively affordable. The Mini Electric is now around £12,700, the Peugeot E-208 sits at around £11,300 and the MG4 just over £13,000.”