Vehicle valuation firm Solera Cap HPI says that the values of some secondhand electric cars have jumped by 20% in just six months, bringing to an end high levels of depreciation that have previously affected them. 

The price increases are thanks to higher demand for electric cars as a result of soaring petrol and diesel costs caused by Donald Trump’s attacks on Iran at the beginning of 2026. 

Diesel prices in the UK in particular have approached highs of nearly £2 a litre in recent months, pushing more drivers than ever before to consider switching to EVs. Used sales have been significantly up this year. 

Solera said that the biggest winner among its top 10 gains in value is the Mini Electric, with trade values for three-year-old cars with 30,000 miles on the clock going up by 28% from £9,905 to £12,710 since spring. 

The firm said that the Tesla Model 3 and Polestar 2 had gained 20% between them, with the Cupra Born and Subaru Solterra models up by similar amounts. 

Chris Plumb, in charge of valuations at Solera Cap HPI, said: “What we’re really seeing is a recovery from previously depressed positions rather than a market running away with itself. In many cases these vehicles still represent excellent value for money and are becoming increasingly attractive to used car buyers.”

Plumb said that the increase wasn’t evidence of a runaway secondhand market, but with prices trending upwards anyone looking at a used electric car should do it quick before the current low deals get more expensive. 

He also added that the increases were good news for existing EV owners who’ve been sitting through depressed secondhand values over recent times as the supply of electric cars on the market has increased.