Ex-fleet electric vehicles are taking more than twice as long to sell as internal combustion engine models, according to new data from epyx, but the situation could change relatively quickly, the company added. Figures drawn from its 1link Disposal Network platform show that petrol cars and vans are taking an average of 10 days to sell, and diesel 11 but … [Read more...]
Tradelines 22 March
Independent used car dealers are being put off stocking EVs as a result of plummeting prices, Car Dealer has been told. Speaking at last week’s Car Dealer Live conference in Gaydon, a panel of used car dealers said they had been forced to rethink their strategies as a result of the recent slide after a drastic cut in new Tesla prices sparked a downward … [Read more...]
EV cars are splitting society, claims used expert
Electric vehicles are a luxury that almost half of society can’t afford, according to claims from used car buying service, Choose My Car. The high cost of purchase, installing expensive charging points, and rising energy costs are just some of the reasons that lower-income drivers are being priced out of the EV market, said Founder … [Read more...]
RAC underwrite used evs and hybrids
A new warranty for used electric and hybrid cars is launched today by the RAC. The RAC Electric Vehicle warranty will be supplied exclusively through the 1,300-strong RAC Dealer Network and can be applied to any used electric or hybrid car up to a maximum of eight years old and with 80,000 miles on the clock at the time of purchase. Cover is available for … [Read more...]
Used car market declines – for now
The UK’s used car market declined by -8.3% in the first quarter of 2020, said the Society of Motor Manufacturers and Traders. Growth in January and February, up 2.9% and 4.0% respectively, was wiped out by a -30.7% fall in March, making it the lowest March on record as coronavirus measures that came into effect and closed retailers. Demand for … [Read more...]
AFVs demand likely to soar
Over half of UK dealers (53%) plan to stock alternative fuel vehicles in the next five years, according to research from Close Brothers Motor Finance’s Dealer Satisfaction Survey. Positively, almost three in ten (29%) car dealers already stock AFVs. And for those who already have stock, two thirds (64%) plan to increase it and a quarter (24%) plan to … [Read more...]
Used dealers struggle with booming evs
The rise in used electric cars threatens to leave some dealerships flat, say analysts. A potential “charging crisis” could soon emerge among vehicle remarketing companies as electric vehicles start to make their way onto the used market in larger numbers, says the Vehicle Remarketing Association. The industry body, which represents businesses that handle, … [Read more...]
EVs used sales soar nearly a quarter
The flow of used evs coming to market jumped 23.4% last year, show latest figures from the Society of Motor Manufacturers and Traders. This is going to be a challenge for the resale trade but a tremendous opportunity said Seán Kemple, Director of Sales at Close Brothers Motor Finance. The SMMT’s used car registrations show a slight 0.1% decline in sales of … [Read more...]
Used EVs now appreciating due to shortages
As sales in the electric vehicle sector continue to surge, analysis from automotive data experts hpi shows that savvy motorists could already be making a profit on a vehicle they bought just 12 months ago. A combination of factors including the rollout of clean air zones, cheaper running costs, increased charging points, incentives to drive and wider … [Read more...]
