Predictions that electric
cars will plummet in value have been rebutted by endorsement of PCP
products by auto giant Nissan.
Specialist used dealer group
ACF Car Finance claimed last week that electric vehicles purchased
today could be worth just 10% of their current price in five years’
The precipitous drop, says
ACF, is because after about eight years electric batteries will
need replacing, costing up to £8,000.
However, Nissan product
communication manager Terry Steeden argued that the use of PCP
products could solve the problem.
“I really don’t see an issue
with the residual value as we provide a PCP product so the customer
can return the vehicle,” he said.
“We have confidence in our
product and offering. We would expect the battery’s capacity to
decay by 80% after five years, but thereafter the rate of decline
“As for prices, nothing’s
confirmed or fixed yet and all our batteries are all still under
warranty. The £8,000 figure is pure speculation.”
However, Steeden said he
couldn’t yet comment on the likely cost of each individual
Steeden added: “Technology will improve and the future of
these cars is looking better as each year passes.”