Lease costs fall 9.5% for EVs in 2018
Leasing costs of battery electric vehicles fell by 9.5% over 2018, according to Cap HPI, with improvements in residual values on the cards.
The firm’s analysis looked at five of the best-selling models in the UK and found that the Nissan Leaf saw monthly lease values fall by 6.6% between January and November 2018. Monthly lease prices for the Renault Zoe fell by 16% between June and November.
In the 12 months up to November 2018, the BMW i3 saw lease prices drop by 9.2%. The Volkswagen e-Golf saw prices drop 14% over the same period. In contrast, the Jaguar I-Pace saw the smallest price drop with a fall of only 1.7% since April 2018.
Mark Turnbull, global head of consulting at Cap HPI, commented: “Over the next few years the new price of BEVs will come down as more affordable ‘mainstream’ model ranges are introduced by many manufacturers. Used buyer perception will continue to improve as battery ranges are extended and charging times are reduced, and electric car technology proves to be robust and reliable. So subject to adequate investment in charging infrastructure, and positive government legislation, I believe their residual values will be stronger.
“A pincer movement of lower new prices and improved RVs will mean less depreciation in pound terms, and cheaper lease rates will speed up the adoption of this technology.”