Electric cars on the brink of becoming primary household vehicle
Electric cars are on the cusp of becoming the primary vehicle in households, according to Shoreham Vehicle Auctions’ managing director Alex Wright.
He believes that improving range, a maturing infrastructure and growing cultural acceptance has taken the electric car market to the brink of a pivotal moment that will ultimately strengthen demand and stabilise future residual values.
Wright pointed to the Nissan LEAF as proof that electric cars can deliver long-term desirability in the used car market.
He said: “The LEAF was created through innovation, not duress. Fifteen years after launch, we still see 12-year-old LEAFs come through our auction with huge success. They follow a clear, predictable depreciation curve and we continue to see a 100% conversion rate on every LEAF we offer. That tells you everything about how well it hit its market, particularly in terms of price and reliability.”
Meanwhile, increased range will drive demand still further.
Wright said: “For many years, EVs were doing 150–170 miles at best. They worked perfectly as a second car for school runs, local errands, and short commutes, or as a company car thanks to tax incentives, but not as the main family vehicle.”
Range
But with many electric vehicles now offering more than 400 miles on a single charge, they have become reliable, practical primary vehicles.
Wright said: “We’re now seeing EVs become the first car in a household, not the second. And once the market crosses the 500-mile range point, I think we’ll see a major jump in adoption. Range anxiety will disappear, and the pressure on public charging points will ease because drivers simply won’t need to charge as often.
“These are vehicles people will happily keep for many years. They’ll enter the used market with better capability, better battery performance and much wider acceptance.
“If you look at where we’ve come from, the progress has been remarkable. And the next two to three years will be transformative. The EV market has an incredibly bright future.”
