The Independent EV Price Index November 2025

Your essential guide to electric car pricing, finance and deals to help you know when to buy in a fast-changing EV market

(Independent)

Welcome to The Independent EV Price Index, your new monthly guide to the real-world costs of buying and running electric vehicles in the UK.

Launched in partnership with E.ON Next, this essential and innovative resource – the first of its kind in the UK – will help you track how EV prices are shifting in the most dynamic car sector in the UK. We’ll tell you what’s driving pricing movements, and crucially help you know when to act if shopping, trading in, or simply tracking where the market is headed.

Combined with the expert reviews on The Independent’s EV channel, we’ll help you decide what to buy as well as when is best to buy it.

Built on data from Insider Car Deals, the data reflects real-world discounts, finance deals and incentives available at retailers right now, giving you a valuable insight into the evolving electric vehicle market every month, all curated by our electric vehicles editor, Steve Fowler.

November EV Price Index Focus

(The Independent)

"Our exclusive EV Price Index tracks new and used prices to give you the knowledge to help you save the most cash possible when you’re buying a new or used EV. This month’s data shows that new EV prices are coming back down after the rush for the new registrations, with the government’s Electric Car Grant having a real impact on the number of people going electric and the prices they’re paying. As we head towards the end of the year the deals are getting better as targets have to be hit – so now is a great time to buy.”

Steve Fowler, The Independent’s Electric Vehicles Editor

1. Electric car prices drop month-on-month as car makers push hard to hit EV targets

Now the rush for new registrations in September is a thing of the past and we head towards the end of the year, dealers and car makers are being more generous than ever with electric car deals. By the end of the year, manufacturers must aim for the government’s target of 28 per cent of all sales being battery electric vehicles. That target is tough to meet and if car makers don’t get there, they risk having to pay fines or use valuable credits. That’s why dealers will welcome EV buyers with bigger discounts as we head towards the end of the year.

EV Price Index data shows that over the past month the median transaction price of an EV has dropped by 1.1 per cent with small cars leading the way with a 4.5 per cent drop compared with the previous month. Even SUVs are showing price drops again with small and medium SUV prices down 1.7 and 1.2 per cent respectively after increases in transaction prices last month. Large SUVs are proving popular, with the only increase in transaction prices over the past month, but only by 0.8 per cent.

Takeaways

• The end of the year is a great time to buy an EV with strong discounts and finance incentives as manufacturers and retailers aim for end of year targets
• However, 2026 targets are even tougher, although the deals may take a while to kick in
• If you’re flexible over the type of car you want, you can find bigger drops in transaction prices amongst small and family cars

2. Prices down a massive 9.4 per cent since last year

The latest EV Price Index data reveals the biggest year-on-year median price drop we’ve recorded so far – down 9.4 per cent or £4,581 compared with the same month last year.

Two things are driving that drop: the increase in the number of more affordable EVs and the government’s Electric Car Grant, offering between £1,500 and £3,750 off the list price of a qualifying electric car. Car makers and dealers have reported increased interest in their EV models since the government’s announcement in the summer, while there are now two cars eligible for the higher rate discount – the Ford Puma Gen-E and Citroen e-C5 Aircross Long Range – and a total of 35 models that get the £1,500 discounts.

On top of the official Electric Car Grant, many car makers without eligible vehicles have joined in the fun with their own ‘grants’ and additional incentives. All have contributed to the huge drop in median prices we’ve seen year-on-year.

Takeaways

• The number of more affordable electric cars has helped to lower the median price for EVs
• The government’s Electric Car Grant has helped to lower prices and boost demand, as have manufacturers’ own ‘grants’

3. This month’s top saving shows incentives knocking 30 per cent off the list price

The dynamics of the car market are always fascinating to watch through the EV Price Index as we see which car makers are working hardest to shift cars. That may be down to the targets they have to hit or a build up of stock. It may even be the UK being seen as an easier place to shift cars to keep factories rolling – slowing down or halting production could be far more expensive for a car maker than offering huge discounts.

This month’s top saving is on an excellent car, the Jeep Avenger – a car that was named European Car of the Year in 2023. This month’s EV Price Index has revealed the Jeep Avenger 115kW e-Summit has been available with the biggest total incentives that equal a 30.5% (£10,074) saving — cutting the price to £23,925 or £240 per month on PCP.

Unsurprisingly, that helps Jeep top this month’s table of car makers offering the biggest total incentives at 29 per cent across its whole EV range, while perennial discounters Vauxhall are in second place at 28.1 per cent and GWM at 27.1 per cent. Even Tesla is getting in on the act, with incentives to the value of 4.8 per cent or £2,500.

Takeaways

• Jeep topping the table with the biggest total incentives on its electric car range and the Jeep Avenger is a great EV to own
• Vauxhall and GWM still offering strong incentives for the second month running

4. Used electric car prices up slightly as sales hit a new high

Over three times as many people buy used cars than new every year in the UK, with battery electric vehicle uptake soaring by 44.4% to take a record 4.0% market share of the huge used car market.

The EV Price Index monitors a basket of ten top-selling used electric vehicles that are widely available across the used car market. We compare similar cars each month to show how used EV prices are shifting.

Last month, the average price of the cars we monitor grew by 0.9 per cent or £157, reflecting the increasing interest in used electric vehicles. The popularity of Korean electric cars, especially on the used market, drove much of that small increase across with the price of a used Kia Niro EV – one of our favourite used EVs – going up by 6.4 per cent last month, with the Hyundai Kona EV up 3.9 per cent and the Kia EV6 up 0.2 per cent. The MG 4, another of our favourites, saw an average price jump of 4.3 per cent, while prices of used Tesla Model 3s stayed stable with an increase of just 0.02 per cent.

Takeaways

• Increasing popularity of used EVs is showing a continual strengthening of prices on used forecourts
• Strong reputation for Korean-brand EVs means strong demand and price increases

5. Electric car choice still increasing month-on-month

EV Price Index data shows another increase in the number of EVs on sale in the UK. There are now 124 EV models tracked in the EV Price Index – up by six from last month’s total. Compared with this time last year there are now 27 new all-electric models, while when different battery sizes, motor options and trim levels are taken into account, there are a total of 1,069 electric car derivatives available to buyers – a 15 per cent increase on 2024.

Notable new arrivals over the last month include the excellent Geely EX5 as well as another BYD, the Atto 2, and Suzuki’s first all-electric model, the e-Vitara.

Takeaways

• More choice means more competition, which means keener deals
• More affordable EVs being launched every month
• New entrant Geely has arrived, with more new brands set to come to the UK in 2026

6. Personal contract purchase prices down three per cent month-on-month

The median PCP monthly payment for electric cars now stands at £450 according to the EV Price Index research – that’s down £14 or three per cent from last month. However, compared with the same month last year, the difference is more marked – down £63 a month or 12.3 per cent.

At 3.4%, the average electric car PCP APR is 2.9% below ICE equivalents, and 2.1% under the average APR for car makers. If you want an interest-free deal on your electric car, there are now 22 car makers offering interest-free PCP deals, which helps to boost the monthly payment affordability of new EVs. Finance deposit contributions remain another big incentive, with EV buyers able to save up to £11,750 per vehicle.

Some of the biggest movers on finance deals came from the more premium end of the market. Small Cars remain the most affordable way into electric motoring, slipping to an average of £300 – a modest £4 drop, but enough to make them nearly 13% cheaper than this time last year. Family Cars barely budged at £339 per month, while Small SUVs posted another noticeable fall, down £12 this month and more than 13% lower year-on-year as that segment continues its steady correction.

Medium SUVs saw a sharper month-on-month adjustment, dropping £19, or 4.3%. But the standout shift came from Prestige Cars, which tumbled by £41 – a sizeable 5.3% fall – even if they remain only marginally cheaper than a year ago. Larger SUVs also softened slightly, easing by £8, or just over 1%.

Don’t forget that our guide to car finance will help you navigate the finance options you’ll be faced with.

Takeaways

• Monthly PCP costs drop as deals get more competitive
• Small cars still seen to be providing the best value in terms of overall incentives

Final Thoughts and Consumer Tips

• Use the EV Price Index to help you buy strategically. Some months will be better to buy than others, and you’ll be able to see when the best time to strike a deal will be – deals seem to be getting better towards the end of the year and away from the busiest sales months.
• The used market is supply and demand driven. Demand is increasing so prices are firming up. That may have a knock-on effect on new car prices, with stronger residual values likely to make finance deals even cheaper over time.
• The best deals are always available to those who are less fussy about what they want. As the EV Price Index shows, the best deals are on the slightly less loved models like small cars and family cars. Everyone seems to want SUVs these days, so those deals tend to be less competitive.
• Always keep an eye on finance terms. Car makers are quick to change deals and will turn the taps on if demand is weak – meaning better deals – or turn them off if demand is stronger, as we’ve seen in September.
• Private lease deals can be a tempting way to buy, too – check the deals on leasing websites to see where the best offers are and compare overall costs with those for a PCP.
• Use our guides to help you buy. The EV Price Index will help you pin down when the best time to buy will be, while our reviews and guides will help you choose the right car for you and how to buy it.

View last month’s EV Price Index Report here.