Used electric cars aren't hanging around on forecourts as long as they used to, with two specialist retailers reporting record turnaround times for their used stock. Meanwhile, Octopus Electric Vehicles says demand for its used EVs has jumped by 150 per cent compared with a year ago, as drivers seek more affordable ways to go electric.
At electric-only retailer Car360, the average time taken to buy, prepare and sell a used EV has fallen from 57 days earlier this year to under 30 days. Fellow specialist Ev Experts says the time between buying and selling a car has halved to below 30 days.
Those timings cover the process from a dealer buying a vehicle to selling it, including preparation in Car360's case. James Buxton, chief operating officer of Car360, said: “The days of convincing people to go electric are largely behind us. Most customers have done their research and want expert advice on things like battery health, charging and which car is right for them.”
That change in the showroom conversation is something Ev Experts has noticed, too. Martin Miller said: “Increasingly, buyers know they want an EV. Our job is to understand how they'll use it and make sure they choose the right one.”
The retailers also report low levels of cars being returned. Car360 says fewer than two per cent of its used vehicles come back, mostly for practical reasons such as choosing a different size of car to suit the buyer's lifestyle. Ev Experts reports no returns.
Beyond forecourts, Octopus Electric Vehicles says its 150 per cent rise in demand for used EVs reflects drivers looking for a cheaper route into electric motoring. That means demand at the leading EV leasing business is two-and-a-half times the level of last year. Octopus says newer technology and features are becoming available at second-hand prices, giving drivers another, more affordable route into electric motoring. It describes used EVs as starting to catch up with the growing popularity of new electric cars.
Octopus Electric Vehicles Chief executive Gurjeet Grewal said: “More and more dealers are embracing electric because that's where customer demand is heading. The best aren't trying to convince people to go electric, they're helping them choose the right car and making the switch simple.”
The reports coincide with Used EV Week, led by the British Vehicle Rental and Leasing Association. The campaign brings businesses across the motor industry together to highlight the growing choice, value and quality of second-hand electric cars, with newer technology increasingly becoming available at used car prices.
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