Ecclestone is delighted that his garage’s new custodian is Mateschitz, 32-year-old owner of the Salsburg-based energy drinks company whose team have won 14 world titles in Formula One, most recently through Dutch star Max Verstappen.

RELATED ARTICLES Previous 1 Next Has your car gone up or down in value in 2024? Biggest used... Plummeting used electric vehicle prices have triggered a... Share this article Share HOW THIS IS MONEY CAN HELP Ten tips to save money on car insurance - and find the best deal Read MoreEXCLUSIVE The sweet spot when EVs become better value than petrol cars revealed EVs and hybrids depreciate slower per mileOne surprising finding from the study is that petrol cars are losing value fastest, while electric vehicles are bucking the trend.By 30,000 miles, the average petrol car has lost 38 per cent of its value, while EVs have only dropped 26 per cent, according to the report.

And hybrids perform even better, with just 11 per cent depreciation in the same period.'Specifically, EV brands like Tesla and Polestar are proving to be strong long-term performers, offering some of the lowest depreciation rates in the market,' Carwow claimed.An exclusive report by This is Money in association with valuations experts at cap hpi last year showed that EVs typically shed the majority of residual value in the first year - or after 10,000 miles.

Thereafter, depreciation is similar to that of a combustion-engined alternative.In all cases we examined - pitching an EV to its closest combustion equivalent from the same brand - the battery model's value had fallen below that of a year-old petrol/hybrid alternative, despite the latter having a far higher new price.

With the vast majority of new EV registrations being fleet purchases - many of which are private buyers utilising salary sacrifice schemes through their employees - it means there are very few who will suffer the first-year depreciation seen here.

By the time fleet contracts end and these models enter the used market, second-hand car buyers can ultimately get better value for money by opting for an EV - granted they have the provisions to charge one at home.Experts warn it can send the cost of premiums for young people - which are likely already pricier than any other age demographic - up by ￡1,000 and make it almost unaffordable for them to get on the road.?

Almost 800 children aged 13 to 16 received endorsements for breaking the law by using private e-scooters in the last four years (stock image)Since 2021, there has been a 2,100 per cent rise in the number of children receiving uninsured driving endorsements, according to a Freedom of Information request made by road safety charity IAM RoadSmart to the DVLA.

While rental e-scooters in major cities are legal, the use of private e-scooters on public roads or in public spaces is still outlawed across the country.As such, it's not currently possible to get insurance for these ride-on devices and is therefore punishable by fines and points as well as the seizure of the e-scooter by police.