Interest in used EV vehicles is surging across the UK, with searches for ‘second-hand EV’ up 49% in the UK over the last year and 44% within the last quarter, whilst queries for ‘used EV’ have risen from 17,000 to 27,000 monthly searches - a 59% increase in that timeframe, according to Google trend data. As more drivers consider switching to electric … [Read more...]
EV incentive will hurt used car buyers & sellers
Government support for the used electric car sector is now “essential” following the introduction of new car grants, says the Vehicle Remarketing Association. Bringing down the price of electric cars in the new market only underlined the need for corresponding action in the used sector, said chair Philip Nothard. “The key point here is to recognise that … [Read more...]
Used EV demand is slowly rising
Almost two thirds of dealers (64%) say consumer demand for used electric vehicles (EVs) is improving, new research shows. This is the highest result since the question was first included in the monthly Startline Used Car Tracker in May 2024. Paul Burgess, CEO at Startline Motor Finance, said, “This figure was just 50% last month and as low as 45% in our … [Read more...]
Government ZEV targets to be missed in two years
Analysts say carmakers will miss UK Government ZEV mandate targets by 346,000 units in three years unless ‘major consumer concerns’ are addressed. That is according to Cox Automotive in its latest Insight Quarterly report which backs up studies by Regit that found that several key blockers remain in place stunting mainstream EV adoption among UK car … [Read more...]
Trade fears over collapsing EV valuations, says ADS
Collapsing EV values and waning confidence in forecast residuals will increasingly force leasing companies to extend contracts and encourage the re-leasing of used EVs in a bid to mitigate losses. All players in the market, from leasing companies and their customers to manufacturers, are feeling the impact as the crisis deepens. That's the prediction from … [Read more...]
Used electric and diesel cars in demand
Consumer interest in used electric and diesel cars has rapidly increased over the last six months, shows new research. December’s Startline Used Car Tracker shows the percentage of motorists who say that they would definitely consider an electric car as their next vehicle is up from 19% to 29%, while for diesel, it has increased from 12% to 22%. However, … [Read more...]
Used EV demand continues rising
It is positive to see that, following the best first half-year performance since 2019, the used car market has continued to demonstrate robust growth in this quarter, despite challenging conditions, said Sue Robinson, Chief Executive of the National Franchised Dealers Association. The used car market experienced growth of 4.3% between July and September, … [Read more...]
Credit for used EVs as sales stabilise
A decision to begin providing used electric car funding for the first time is a “vote of confidence” in the stability of the market, says Startline Motor Finance. The motor finance provider is now offering its full range of hire purchase and personal contract purchase plans for electric cars with rates and conditions identical to petrol and diesel … [Read more...]
Call for independent certified EV health check
Almost nine out of 10 motorists say it is important to have an independent, certified used electric car assessment showing how well previous owners have looked after the vehicle’s battery. While 83% want to know how long the battery will take to fully charge, 82% also want verification on the amount of battery capacity that has been lost since new and 81% … [Read more...]
Tradelines 7 August
Fatigue is being added by FleetCheck to the employee fit-to-drive declaration included in the company’s daily vehicle walkaround safety app. The fleet software specialist says that there is increasing concern among employers about the dangers of tired drivers and a desire to include it in risk management policies. Responding to the news that the Labour … [Read more...]
