Question to the Department for Transport:

To ask the Secretary of State for Transport, what comparative assessment she has made of the depreciation rates of (a) electric and (b) petrol and diesel vehicles.

The Government is aware that, despite strong growth of the used Electric Vehicle (EV) market, the residual values of some EVs have depreciated more quickly than their internal combustion engine equivalents. The used EV market is still maturing, with developments in EV technology and increasingly affordable new models putting downward pressure on used EV prices.

We are actively supporting industry-led working groups focused on the used EV market. We will continue to work with industry on this.