This month’s data from The Independent EV Price Index has shown that median prices have increased as demand for electric cars picks up.
September was the biggest-ever month for EV registrations, with 72,779 new battery electric vehicles hitting the road, up 29.1 per cent on September 2024. Over the same period the EV Price Index shows that EVs have become far more affordable, with median prices down £3,759 in September 2025 versus September 2024 – a drop of 7.7 per cent.
Over the past year, a host of more affordable EVs have gone on sale, with choice increasing by 35 per cent when individual model derivatives are analysed.
The Independent EV Price Index analyses transaction prices of new electric cars, with manufacturer incentives and the government’s new electric car grant taken into account. The index reflects real-world prices paid by consumers rather than just list prices.
However, month-on-month data reveals that EV transaction prices have actually risen by 0.5 per cent or £207 from August to September as the new 75 registration plate brought buyers into showrooms.
The increase in transaction prices in September were led by the most popular segments: medium SUVs with transaction prices up £1,426 month-on-month or 3.3 per cent, and small SUVs that rose £140 or 0.4 per cent.
Other categories of electric cars all saw a further drop in transaction prices in September following drops in August. These ranged from family cars at £245 less (or one per cent) to prestige cars down £712 (or 1.1 per cent).
Analysing the EV Price Index data, The Independent’s electric vehicles editor Steve Fowler said, “We’re seeing organic demand for electric cars increasing, which means retailers aren’t working quite as hard to seal the deal across the most popular segments.
“However, a median year-on-year price drop of £3,759 shows just how much more affordable electric cars are becoming, and that’s before you take into account running cost savings, especially if the owner is able to plug in at home and benefit from a low-rate energy tariff.”
The Independent EV Price Index also highlights the car makers offering the biggest deals, with GWM offering incentives totalling 22.9 per cent, Cupra at 19.9 per cent and Vauxhall at 19.6 per cent. The standout deal of the month uncovered by the EV Price Index research was for Vauxhall Corsa 100kW Ultimate 50kWh, with savings of 36.1 per cent (£11,570). That cuts the price to just £21,480, or £261 a month on PCP.
“The dynamics of supply and demand have a huge effect on the deals we’re seeing via the EV Price Index,” said Steve Fowler. “Although there were more customers in retailers in September, there is still plenty of EV stock around in some sectors of the market and strong pressure from car makers to hit government targets for the sale of EVs, which means incentives are likely to remain high for the rest of the year.”
