Electric cars are losing their value at twice the rate of petrol vehicles, in the case of some models, meaning drivers have lost thousands of pounds to depreciating prices.
Electric vehicles (EVs) lost roughly half their value between 2020 and 2023, while petrol car prices fell by 37pc in the same period, according to used car finance specialists Choose My Car.
Its study found electric cars lost £15,000 of their value on average over the three-year period, compared with £9,000 for petrol vehicles. In some cases the gap was far wider.
