Posted by Richard Willett - Memes and headline comments by David Icke Posted on 2 September 2023

The 10 used electric and hybrid cars that have fallen in price most in the previous three months

Second-hand electric vehicle values continue to fall as demand for used battery-powered cars falters, according to a new study.

Industry figures show new electric car registrations are up nearly 90 per cent compared with 2022, while sales of second-hand models have also risen 82 per cent annually.

However, the latest data from AA Cars suggest that interest in EVs is cooling. In the first six months of 2022, 11.3 per cent of UK-wide searches by fuel type on the AA Cars site were for battery vehicles.

This has fallen to one in 20 searches over the same period this year.

And with shrinking demand comes falling prices, with the online vehicle marketplace revealing which battery models have lost the most value on average in the previous three months.

While demand for used EVs across Britain is declining, London is the exception to the rule, AA cars says.

And it believes the expansion of London’s Ultra Low Emission Zone (ULEZ) this week is the reason for this.

From Tuesday 29 August, the charging zone boundary grew more than four times in size to cover the capital’s outer boroughs.

Those with non-compliant older petrol and diesel cars now face a £12.50 daily charge each time they enter the zone.

With London residents frantically looking to offload their older motors and replace them with greener replacements, there is a greater appetite for EVs from those living in the capital, the car sales site claims.

While just 5 per cent of all searches on its platform this year are for battery cars, for those looking in London it rises to 10 per cent.

Not only is that double the UK average but is also a slight increase in demand on the same time last year, when EVs made up 9.1 per cent of all searches in the capital.

Mark Oakley, director of AA Cars, said there are definite signs that interest in EVs ‘may be cooling outside of London’.

He added: ‘This could be down to cost of living pressures pushing people towards buying cheaper petrol and diesel vehicles.

‘While the ULEZ expansion is likely playing a part in keeping London demand steady as drivers look to future-proof themselves, it is clear that more needs to be done to promote EVs in order to accelerate their take-up.’

Read More: The 10 used electric and hybrid cars that have fallen in price most in the previous three months

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