Demand for used electric cars and vans (EVs) at auction has increased significantly, according to Shoreham Vehicle Auctions (SVA).
SVA has observed a significant rise in demand for EVs in recent months with the market witnessing stronger residual values on both cars and vans. As an example, the Nissan e-NV200 van has appreciated in value year-on-year by around £1,000, said SVA.
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Alex Wright, managing director of SVA, said: “The second half of 2018 saw a strong demand for used EVs and that has continued into 2019, which has resulted in ever stronger prices.
“Part of this rise in value is because of the increasing awareness across London and the south east of the pending introduction of the UK’s first Ultra Low Emissions Zone in April.”
On the electric car front SVA has seen demand for both owned and leased battery powered vehicles increase. According to the company, with the resilience of the technology used cars with leased batteries are in high demand with a number of dealers.
Wright said: “Previously, very few dealers understood the process of transferring the title of the vehicle and the battery lease within the used sector. This simple process was complicated by some residual value guides opting not to publish their values – however we know they have a very strong demand, and this is being realised by some very switched-on dealers.”
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By GlobalDataSVA collaborated with the Energy Saving Trust through a used electric vehicle training course for car and van dealer sales staff in May 2018.
“We have helped support an increase in knowledge of EVs within the market and many progressive dealers have a good understanding of EVs, customer suitability and battery types,” explained Wright.
In a Deloitte report on Battery Electric Vehicles (BEVs), the company predicted that the reducing cost of the technology will lead to BEVs costing roughly the same for consumers as an equivalent vehicle run on an internal combustion engine by the year 2022.
