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It is evident that the value of used electric cars and alternative energy vehicles are closing in on that of the traditional diesel-engine vehicles.

According to claims by Glass, a car data provider, this is turning out to be the norm after the used-car market are becoming more in tune with the technology.

Glass, also a publisher of a yearly trade pricing book for the vehicle industry, said in its report that the residual value forecasts on electric vehicles already show a good number of similarities to the diesel-engine versions. And with the enhancements and added features to be done on its battery, the gap between the two is expected to become narrower.

Glass’s head of valuations, Rupert Pontin, said that the accepted gold standard when it comes to electric cars is the Model S. The premier car brand offers a minimum of 220 miles in driving range. It has a value of 60,000 miles for 3 years, which is about 43% of the car’s brand-new value. Such a value is almost identical to its direct competitor, the luxury BMW M535D M Sport, a diesel-run vehicle.

In the case of the Vauxhall Ampera Electron, its residual value is 27.85 percent of its original value, which is almost the same as that of its closest diesel competitor, Insignia SRI CDTi’s, with its residual value at 34.56 percent. The electric-run BMW i3 extender Suite has a residual value of 39.11 percent; this is comparable to BMW 320d Sport’s 43.46 percent.

Mr Pontin explained that while there is still a clear difference between used electric cars and diesel in terms of value, the gap is closing up all the more. Especially if the running costs of an electric car are taken into consideration, other vital factors like savings on fuel would mean that the EVs are bound to beat its traditional counterparts.

Pontin reported about a new battery pack that Nissan has manufactured for the LEAF vehicle. With the announcement that the battery, which is used for Nissan’s LEAF brand, will cost around 5,000 euros or £3,581, this will serves as a major boost to the electric car industry.

Pontin said: “Residual values (RVs) of the Leaf are among the poorest of the EVs at around 29% at three years 60,000 miles because there are quite a number around. However, removing the mystery surrounding the battery pack pricing took away a large degree of uncertainty from forecasting its RVs. While 5,000 euros is expensive, it is something that can be planned into a budget when you are making an RV forecast.”

He pointed out the fact that the sale of electric vehicles accounts for only about two percent of the total car market. But for instance, like in the case of the United Kingdom being able to meet its target for 2020 of emissions of 95g/km for every car, its shows that EV penetration will become a reality at a faster rate. Eventually, as these electric vehicles become a common part of every consumer’s life, it can be expected that the EV residual values will stabilise.