The price gap between used electric and petrol cars has narrowed to its smallest level on record, marking a notable moment for the UK automotive market. New data indicates that the two powertrains are now effectively aligned in value at the wholesale level. This development reflects a combination of falling electric vehicle prices and rising petrol car values. It also coincides with a rise in demand for used electric models, suggesting a broader shift in how buyers are approaching the market.
According to Autorola, an online wholesale remarketing company, average used petrol prices rose by 5.1% between Q4 2025 and Q1 2026, increasing by £768 to £15,727. Over the same period, used electric vehicle prices fell by 9.1%, a drop of £1,558, bringing their average value to £15,486.
Converging Prices Reshape the Used Car Landscape
The resulting £241 difference between the two categories represents the closest alignment ever recorded by Autorola. According to the company’s analysis, this is the first time such parity has been observed in the used market, even though similar trends have already been seen among new vehicles.
This convergence is not only about pricing. The data also highlights differences in vehicle age and mileage that may influence buyer decisions. According to Autorola, the average used electric car sold in Q1 2026 was 32 months old with 20,002 miles on the clock. In contrast, the average petrol car was older at 37 months and had covered 22,606 miles.
These figures indicate that buyers were able to purchase newer electric vehicles with lower mileage for less money than comparable petrol models. The shift suggests that increased supply of used electric cars is beginning to alter traditional pricing structures in the second-hand market.
Rising Demand and Market Share for Used Electric Vehicles
Alongside price changes, demand for used electric vehicles has increased sharply. Autorola reported that electric vehicles accounted for 10.4% of its total sales in Q1 2026, up from 5.4% in the previous quarter.
This rise in market share was driven by a significant increase in buyer bids on electric models through the company’s online platform. According to Autorola’s managing director Neil Frost, sales of used electric vehicles nearly doubled within a three-month period.
Frost attributed this trend to several factors, including declining prices for used electric vehicles and a higher volume of stock entering auctions. According to his statement, the introduction of the new 26-plate registration in March contributed to this increase in supply, while higher fuel prices for internal combustion engine vehicles may also have influenced buyer interest.
He noted that while parity between new electric and petrol cars has been observed for some time, the alignment in the used sector marks a different stage in market development. The figures, he said, represent a step change in the popularity of used electric vehicles. Taken together, the data points to a market undergoing adjustment, with pricing, supply, and demand beginning to align in ways not previously seen in the used car sector.
