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Two thirds of EV car buyers will consider used for their next purchase

TWO three buyers (65%) considering an electric vehicle (EV) as their next car expect to purchase used rather than new, according to research commissioned by eBay Motors Group.

Furthermore, buying a used EV appeals more to women (69%) than men (61%), although they were evenly split (30%) when considering nearly-new EVs less than two years old.

Overall, the inclination to buy a used EV was strongest among petrol or diesel owners (81%), falling to just 18% of those currently owning an EV.

eBay Motors Group’s latest Consumer Insight Panel, polling the views of 2,000 in-market buyers in September, also identified the main concerns of consumers considering buying a used EV.

Jointly topping the list were the cost to buy being too high (43%) and worries over the quality and performance of batteries (43%). Women were more concerned about costs (46%), while men were most concerned about the state of batteries (45%).

Other concerns included maintenance and servicing costs (28%), range being less than with new EVs (28%) and uncertainty over what constitutes reasonable mileage (27%). However, only 15% were concerned about lower resale values and 14% poor finance deals.

Lucy Tugby, Marketing Director of eBay Motors Group, said: “With rising new EV registrations gradually generating more volumes in the used market, buying secondhand is becoming a realistic consideration for a growing number of car buyers.

“Our research shows how two in three decision makers considering buying an EV as their next car will realistically think about buying used, although the actual cost of purchase remains a significant barrier for many.

“However, we believe this will be gradually addressed by the ongoing downward realignment of wholesale values which in turn will give dealers more confidence to source EV stock and pass on savings to customers ready to transition away from petrol and diesel.

“Concerns over battery life are understandable but generally unfounded as the latest generation of EVs enter the used market. Dealers will have a role to play to help alleviate these concerns, a task made easier by the OEMs who have extended warranty cover on their batteries.”





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