• 52% of used dealers believe electric car prices and values could further deteriorate this year
• 49% say consumer demand isn’t rising quickly enough to support values and 36% that supply is increasing too quickly
• However, 11% say that electric car stock is becoming more attractive, reports March’s Startline Used Car Tracker.

March’s Startline Used Car Tracker shows 49% say consumer demand isn’t high enough to support values, 42% say there aren’t enough advantages for consumers choosing an electric car, and 39% say more people are opting for hybrids as a stepping stone to going electric.

Also, 36% report that stock supply is rising too quickly and 24% that electric cars are still too expensive at current prices.

However, 11% believe electric cars are becoming more attractive, 9% that current prices are sustainable and 9% that general enthusiasm for electrification is increasing.

Paul Burgess, CEO at Startline Motor Finance, said: “Electric car prices and values are already generally below petrol equivalents but these findings show that the majority of dealers believe they have further still to fall.

“Supply of these vehicles is increasing quite quickly and while consumer enthusiasm is also increasing, there’s a widespread feeling among dealers that a negative imbalance exists which will further drive down prices and values.

“This is bad news for anyone bearing the depreciation on a new electric car but good news for those buying a used one. There are some very real bargains in the market at the moment and, if our research is correct, there could be even bigger ones as the year progresses.”

The Startline Used Car Tracker also asked dealers when they expected prices and values for electric cars to align with those of petrol, diesel and hybrid alternatives – with 41% saying within one-two years, 46% in three to five years, and 13% longer than five years.

Paul said: “It’s clear dealers believe that electric car prices and values will start to stabilise, and many believe this will happen relatively quickly. However, they still largely foresee much more turbulence in the shorter term.”

Compiled monthly by APD Global Research – well-known in the motor industry for their business intelligence reporting and customer experience programs – the Startline Used Car Tracker this month questioned 301 consumers and 61 dealers.