If you want to buy a car that will rise in value, you usually need to go for something classic or exotic – not a £6,000 runaround.
But new figures reveal a handful of family cars bucking the usual price trend and they all share one attribute, they are electric.
The Renault Zoe is top of a list compiled by price specialist HPI of second hand cars that are rising in value – and someone who bought one this time last year could potentially now sell it for 30 per cent more.
This means that if you had bought an average Renault Zoe in July 2017 for £6,300 and spent the past year putting 12,000 miles on the clock it should now be worth £1,900 more, says HPI.
Electric values: If you bought a Renault Zoe electric supermini a year ago and put 12,000 miles on it, you’d be able to sell it today for a 30% profit, according to new data released by HPI
The Government’s recent crackdown on diesel cars has resulted in some pretty odd activity on the used car market, the new data revealed.
The threat of extra taxes and city-centre restrictions and charges has seen diesels rapidly fall out-of-favour in dealerships.
And this has pushed the values of some older electric cars through the roof in the last year.
According to HPI, there are 11 used models that have actually risen in value in the last 12 months – and the ones that have sky-rocketed are older electric cars that were not on the wish lists of second-hand buyers a couple of years ago.
A far cry from the glamour and hefty price tag of a Tesla Model S or X, the top five electric star cars are the Renault Zoe, Peugeot iOn, Citroen C-Zero. Nissan eNV200 and Hyundai Ioniq.
In fact, had you purchased one of these 11 cars a year ago and driven 12,000 miles in the last year, they’d still be worth more today than what you initially paid.
The list not only includes a range of previously undesirable hybrids, cheap-to-run small petrol models and an unleaded-powered minibus.
|Model||Fuel Type||Average of Jul-17 (12k)||Average of Jul-18 (24k)||Average of % Change Jul17-Jul18|
|RENAULT ZOE (13- ) ELECTRIC||Electric||£6,278||£8,150||30%|
|PEUGEOT ION (11- )||Electric||£5,075||£6,150||21%|
|CITROEN C-ZERO (11- )||Electric||£5,425||£6,325||17%|
|NISSAN eNV200 (14- )||Electric||£11,981||£13,097||9%|
|HYUNDAI IONIQ (16- ) ELECTRIC||Electric||£16,125||£17,000||5%|
|VOLKSWAGEN CADDY LIFE (10- )||Petrol||£9,367||£9,713||4%|
|NISSAN MICRA (10-17)||Petrol||£5,882||£6,072||3%|
|SEAT MII (12- )||Petrol||£4,922||£5,005||2%|
|SKODA CITIGO (12- )||Petrol||£5,187||£5,274||2%|
|TOYOTA YARIS (12-17) HYBRID||Petrol Hybrid||£11,190||£11,322||1%|
|TOYOTA PRIUS (09-16) HYBRID||Petrol Hybrid||£16,050||£16,196||1%|
Derren Martin, head of current valuations at HPI said: ‘It is rare to see cars appreciate in value but the market is seeing an unusual combination of factors.
‘We do have to stress that, just because these models have increased in value in the last year, it doesn’t guarantee the same will happen again in the next 12 months.
New diesel car sales have plummeted over the past 18 months. Fears of extra charges for driving them to discourage ownership due to their higher nitrogen oxide pollution have been added to by a tax change.
Car tax rates were updated for new vehicles from April 2017, removing the low CO2 benefits of diesel cars and making them more expensive to tax, and this weighed further on demand.
In March 2017 new diesels made up 43 per cent of all new registrations. Last month, the market share fell to 37 per cent, with sales dropping by 28 per cent year on year.
New car buyers have been looking to switch to petrol or alternative fuel models and it appears this increased demand for other fuel types has filtered into the used market.
The Citroen C-Zero (left) and Peugeot iOn (right) and sister electric cars that were among the first mainstream zero-emissions models to break onto the scene in 2011. They’ve appreciated on average by around 20%
The used cars rising in value
Topping the list of used cars rising in value is the Renault Zoe electric supermini, which first hit the market five years ago.
The average value of this zero-emissions model in July 2017 was £6,278. Fast forward 12 months and add a year of life and 12,000 miles on the clock and values are up to £8,150 – an increase of 30 per cent.
It’s a similar story for the Peugeot i0n and Citroen C-Zero – electric sister cars produced in partnership by the French brands from 2011.
An iOn is now worth 21 per cent more than it was a year ago, while the C-Zero is 17 per cent more valuable than it would have been if you’d bought one in July 2017 with 12,000 fewer miles on the odometer.
The used car that has recorded the fourth most significant increase in value is the ultra-rare Nissan eNV200 MPV – a seven-seat electric people carrier.
It would have cost £11,981 12 months ago, but now is valued on average at £13,097, a 9 per cent rise, even with the extra miles on the clock.
The more recent Hyundai Ioniq is also among the top five, increasing in value by five per cent in a year.
Family car buyers looking for an electric seven-seater appear to be chasing down Nissan eNV200s.
The Hyundai Ioniq is the latest of the appreciating electric cars on the list. Demand is high but stock of used models is still relatively tiny
Much of the price rises could be down to their limited availability.
While there are a few thousand Renault Zoes and Nissan eNV200s registered on UK roads, there are just 422 Peugeot i0ns and 225 Citroen C-Zeros, according to Howmanyleft.co.uk.
Just nine used iOns are currently listed on Auto Trader for sale and there are only two C-Zeros.
Just 389 pure-electric Ioniqs have been sold so far, according to How Many Left, and just two are being offered for sale on the used car site.
It’s a similar story for the petrol-powered VW Caddy Life, with records showing that just 361 are on UK roads as it stands and one for sale across the country on Auto Trader.
Mr Martin said: ‘The used car market is very strong at the moment and new car PCP offers, a key driver in the new market, are not as good as they were a year ago.
‘Lower new car sales means there are fewer part exchanges available while demand for some small cars remains high.’
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