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agosto 8, 2023
Average Price of Electric and Hybrid Cars Drops for the First Time in Over Two Years
By Mobility Portal España

Average Price of Electric and Hybrid Cars Drops for the First Time in Over Two Years

In July, the average listing price decreased by 1.7%. This marks the first year-over-year decline recorded in the last 28 months.
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The average listing price of used electric and hybrid cars saw a 1.7% decrease in July.

This marks the first year-over-year decline in the past 28 months, which is nearly two and a half years.

It’s worth mentioning that the average listing price for the used hybrid and electric car segment stands at €33,092, according to data from Coches.net’s barometer.

This amount remains significantly higher than the €19,819 average for second-hand vehicles in Spain.

In this regard, the substantial investment required to opt for these types of vehicles continues to deter many families from zero and low-emission engines, even in the second-hand market, which should be one of the gateways for the public to adopt less polluting mobility.

However, one of the indicators suggesting that prices for these vehicles could continue to drop in the coming months is the upward trend in the number of cars offered in this segment.

While there was a 47% surge in June – doubling the increase seen in May at 21.4% – the growth in July was 61.1%, an even more striking figure.

Regarding this, Marcel Blanes, the institutional head of coches.net, comments:

“The fact that we’ve been experiencing a significant increase in the supply of used hybrid and electric cars for several months is one of the factors explaining the slowdown in the average listing price that was first observed in July and which, we hope, will continue in the coming months.”

Finally, it’s worth highlighting that older vehicles continue to be the best-sellers, accounting for 58% of the total.

They are followed by cars aged between five and ten years, which make up 17% of the total.

Three to five-year-old cars represent 12%.

Despite this market distribution, cars over a decade old were the only ones that experienced a drop in sales this month.

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