EV levels low at independent dealers

New data has revealed that only 17% of independent dealers stocked electric vehicles in March.

This is according to cap hpi, which found that this figure rises to 43% of franchised dealers and 49% of car supermarkets.

Derren Martin, director of valuations at cap hpi, said: “Our data shows that many dealers seem reluctant to stock EVs despite rising demand from consumers. If the ZEV Mandate is to work effectively, every new car needs a used buyer later in life, and dealers have a role to play in building their local markets.

“At current prices, many used EVs represent great value to drivers against new and a low total cost of ownership. Our data shows that many EVs are a great profit opportunity for dealers, and tend to sell quickly from forecourts.”

Insights from cap hpi found have revealed a further softening of EV prices in the first quarter of this year. Although some models have stabilised or increased marginally, many EVs have continued to fall in value during the first three months of the year in comparison to their petrol equivalents, with average prices down 2.2% at the three-year age point.