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Ms Tugby explained: \u201cWith rising new EV registrations gradually generating more volumes in the used market, buying second-hand is becoming a realistic consideration for a growing number of car buyers.<\/p>\n
\u201cOur research shows how two in three decision makers considering buying an EV as their next car will realistically think about buying used, although the actual cost of purchase remains a significant barrier for many.<\/p>\n
\u201cHowever, we believe this will be gradually addressed by the ongoing downward realignment of wholesale values which in turn will give dealers more confidence to source EV stock and pass on savings to customers ready to transition away from petrol and diesel.\u201d<\/p>\n
The latest research shows that almost two-thirds of motorists (65 percent) who were considering an electric car expected to buy a second-hand model over a new one.<\/p>\n
DON’T MISS <\/strong> We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n Interest in buying a used EV was highest among current petrol and diesel owners with 81 percent considering making the move.<\/p>\n However, the analysis of 2,000 individuals found there were still a variety of reasons holding people back from making the jump to EVs.<\/p>\n A whopping 28 percent said they were concerned about maintenance and servicing costs with 15 percent concerned about lower resale values.<\/p>\n Worries over the quality and performance of batteries were also a factor holding back around 43 percent of the market.<\/p>\n But, Ms Tugby has tried to reassure road users who may be on the fence over the issue.<\/p>\n She added: \u201cConcerns over battery life are understandable but generally unfounded as the latest generation of EVs enter the used market.<\/p>\n \u201cDealers will have a role to play to help alleviate these concerns, a task made easier by the OEMs who have extended warranty cover on their batteries.\u201d<\/p>\n
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