Used EV demand rising within dealerships
New research carried out by Startline Motor Finance has found that used EV demand is rising, with 64% of dealers reporting an increase in customer interest.
This is up from 50% last month and 45% in November.
However, the analysis carried out by Startline Motor Finance also showed that values remain volatile with only 28% of dealers saying the situation is improving.
Paul Burgess, CEO at Startline Motor Finance, said: “There has been quite a marked and rapid change in the views of dealers. Certainly, there are reports from a variety of sources that used buyer demand for EVs is now bordering on buoyant, with fast stock turnaround times and a general sense of maturity appearing in the market.”
Price volatility
Despite this, the April edition of the Startline Used Car Tracker found that only 38% of dealers say they are more enthusiastic about EVs, a fall from 43% last month. One reason for this may be concerns over EV price and value volatility, with just 28% in the new research saying the situation is getting better, compared to 45% in March.
Additionally, 57% say the move to EVs is the single biggest challenge to the future of their business, ahead of finance availability at 52% and stock supply at 50%.
Burgess said: “Taken together, all these statistics paint quite a complex picture when it comes to the used EV sector. While consumer demand is probably improving, there is clearly some concern among dealers that the journey to electrification is going to remain a bumpy one.”
