Dealer positivity on used EVs continues to grow

Used car dealers are increasingly positive about electric vehicles on the secondhand market, according to a new poll of retailers.

The latest survey of dealers found that the number of dealers who say they are “enthusiastic” about used EVs has almost doubled in the past year, and the number who identify EVs as the sector’s biggest challenge has dropped significantly.

The Use Car Tracker from Startline found that as used EV sales soar the proportion of dealers who see EVs as the trade’s biggest challenge has dropped from 54% last October to 37% this year.

At the same time, the proportion who are enthusiastic about the impact of EVs on their business has jumped from 32% last year to 62% this year, with dealers also increasingly positive about charging infrastructure and EV price stability.

Paul Burgess, CEO at Startline Motor Finance, said: “EVs are appearing on the used market in ever greater numbers and handling them is becoming an everyday part of the job for more dealers. As a result, we’re seeing higher levels of acceptance.

“It’s not just electric cars themselves where we are seeing improvements in dealer perceptions but supporting factors such as the charging infrastructure and the stabilisation of values and prices. These are potentially important developments.”

The latest research found that the share of those who think the charging network is an issue has fallen from 67% of dealers to 47%. Additionally, fewer think volatility of EV values is problematic – down from 40% to 31%.

Burgess warned, however, that there was still work to be done to convince some dealers of the benefits of the growing used EV market. He noted: “It undeniably remains significant that more than a third of dealers still think electrification is the biggest issue facing the used sector. While our results show significant progress has been made, there is still much further to travel.”

Earlier this year a study by the University of Exeter found that the used car market was heading towards a tipping point where EVs would become more popular than petrol or diesel. That was backed up by Startline’s own research, which showed that 90% of dealers agreed with the study’s findings.