More than half of dealers (53%) say that electric vehicles (EVs) become much easier to sell when they are priced the same as petrol cars.
May’s new Startline Used Car Tracker also shows that a third (32%) think that EVs have become generally easier to sell in 2024.
Paul Burgess, Startline Motor Finance chief executive, said: “The large reductions in prices and values seen for EVs in the last year or so have received a lot of attention, and mean we are now in a situation where many comparable used EVs and petrol models are priced at around the same level.
“What dealers are telling us in the research is that once this kind of price equivalence is reached, EVs are much easier to sell. The message appears to be pretty straightforward – there is a strong market for used EVs when they reach parity with ICE.”
A third of dealers (32%) also say there are now more family-friendly EVs available that are easier to retail but 25% believe there is still an excess of big, expensive models in the used car market.
Burgess said: “It’s been a problem that many of the EVs that were initially brought to market were pricey, luxury models for which there has been limited used demand.
“That’s starting to change and dealers seem to recognise that there is now more everyday stock around that will serve the needs of a wider range of buyers.”
This month’s Startline Used Car Tracker is based on views from 303 consumers and 60 dealers.
The UK’s leading event for motor retailers – Wednesday November 13, 2024.
Automotive Management Live 2024 welcomes motor retail managers from across the UK to discover business improvements, to understand best practice and to network with fellow dealers and suppliers.
Topics this year will include agency business models, the brands now entering the UK new car market, used car stock management and more. It’s free to attend, but you’ll need to register.
Venue: NEC, Birmingham
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Freelance writer for AM, Tom Seymour has been a specialist B2B journalist covering the automotive sector for over 14 years. He started his freelance career in 2015 and currently writes for a variety of automotive, business and technology publications.
