When the MG dealer told Richard Hilder his new MG 4 EV had finally arrived after six months of waiting, the Derby-based business manager was elated. But then came the shock: a day later, the dealer phoned again to say his Citroën ë-C4 was no longer worth £20,900 but £16,000, so could he please find a £2000 up-front deposit and accept another £36 per month on his four-year PCP deal?
“Having waited for six months and genuinely looked forward to the car, it was like being slapped round the face then punched in the gut,” Hilder told Autocar.
He's one of the many victims of a huge crash in the value of used electric cars in the UK. Just how huge is revealed by data from pricing expert Cap HPI, which has recorded an 18% decline in EV values in the last 12 months.
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