Room for optimism in used EV sales stats – but information gap needs closing
Founder and CEO, Regit
Away from the sale of new electric cars, the often forgotten relative in the EV-bashing tabloids is the sale of used EVs.
Given that dealers have significantly reduced their stock of second-hand models because many just won’t sell, it’s easy to think that the picture on this side of the market could be bleak.
However, in our latest survey of our digital garage holders, there’s plenty of cause for optimism, with good numbers of motorists seemingly happy to consider a used EV if the information gap was closed.
"Brand loyalty is as low as I can remember as we move towards greener motoring, with 76% of those surveyed saying they would be less brand loyal, whereas 65% of our users said they will be actively considering a new brand when looking for an electric vehicle."
Chris Ashton-Green, Founder and CEO, Regit
A key example of this is battery health. 96% of those surveyed listed this as a key requirement when assessing a used EV online. In contrast, two in three said battery health itself was a more important requirement than range – yet there is virtually no online presence or record of battery health across retailer and dealer sites.
96% also listed warranty as an important part of their decision-making, but, at times, information online can be limited or hard to find and this will influence the 76% who said there isn’t enough information on retailer sites to help inform a switch to an EV. And there is certainly opportunity with today’s consumer.
Brand loyalty is as low as I can remember as we move towards greener motoring, with 76% of those surveyed saying they would be less brand loyal, whereas 65% of our users said they will be actively considering a new brand when looking for an electric vehicle e.g., Polestar, Genesis or one of the new Asian brands.
Another opportunity lies in the fact that people simply don’t know what your average electric car will cost. We asked our audience if they roughly know the price of a VW ID.3. 80% didn’t realise that with some savvy shopping you can pick one up for under £20,000 – yet 64% say price is a barrier to sale. £20,000 is still a lot of money, but many would say a low-mileage, two-year-old hatchback from a semi-premium brand at that price represents a good deal.
It’s here where the perception of price can kill a sale before it’s even begun. and so being on the front foot, using data and technology to create proactive lead gen strategies that put great offers in front of customers who may be considering a new car that will help to kick start a used EV economy where there are some great deals to be had.
For more information, or to arrange an interview with Chris Green directly,
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