Cap HPI flags EV unpredictability within a stable post-election market

Electric cars remain the most unpredictable and volatile fuel type in an otherwise stable market, according to experts at Cap HPI

In its mid-month analysis, it noted that used values, at three years and 60,000 miles, have remained relatively steady since the end of June, with only a 0.1% drop.

Historically, the average movement in July is a 1.1% decline, excluding 2020 and 2021. This year, July has shown more strength than usual, with a much smaller expected movement.

Derren Martin, director of valuations at cap hpi, commenting, said: “The stable market continues with strong conversion rates at auction, improving slightly compared to June. Sold volumes are up around 7% from last year but remain 10% lower than in 2019 due to supply issues.

“The election has had minimal impact on customer demand, and we anticipate market stability for the rest of the month, despite various nuances within cap live values.”

In the EV segment, values have dropped 0.9% over the first 11 days of the month. Some EV models, like the Hyundai Kona (-4%), Renault Zoe (-3%), and VW Up! (-5%), have experienced more significant declines, while others have remained stable. Many EVs now present great value compared to their ICE counterparts.