Arval‘s event featured presentations by Rachael Jones of Auto Trader on the future growth of the EV market and Arval consultant, Paul Marchment, to dispel used car buyer concerns about range and charging.
There was also the opportunity to try a selection of EVs available within Arval’s current used stock including the Volkswagen id3, CUPRA Born, Hyundai IONIQ 5, Renault Megane E-Tech, Genesis GV60, Kia e-Niro, Kia EV6, BMW iX1, Jaguar I-PACE, Tesla Model 3 and Model Y andthe Ford E-Transit.
Arval UK’s head of B2B and remarketing partnerships, Stuart Chamberlain, said: “The number of ex-fleet EVs that we are selling into the used car market is currently quite low – disposed of around 1,000 in the last 12 months via our dealer platform Arval MotorTrade and direct to consumers – but is set to grow exponentially in the next couple of years.
“We know that some dealers are quite advanced when it comes to their own retailing of EVs while others are approaching the subject with more caution.
“What we were aiming to do with this event was really show how the used EV sector is going to increase massively in size quite quickly, look at the key areas of concern for both retailers and their customers, and show the attractiveness and benefits of the vehicles available.”
“It’s all about taking proactive steps to increase education and adoption of the new technology to the benefit of everyone involved in the remarketing process.”
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He explained that a properly functioning used market for EVs was crucial to the overall electrification of the UK’s car park.
“The used sector is integral to the country’s EV transition and it’s important that used car dealers and their customers feel comfortable and are educated on their capabilities.
“What we want to do is help build confidence and the feedback received from the event has been very positive. Especially, once dealers try the vehicles, many of their reservations evaporate.
“Used electric vehicles are already proving popular online search items on Arval Motortrade, our dealer platform, and Arval Autoselect, which is open to direct retail customers. It is all about fostering future demand as more and more units come to the end of their first company car or salary sacrifice lease.”
Rachael Jones, Auto Trader’s director of automotive finance, said: “The day was a real success, and it was a pleasure to be able to support Arval in providing such an engaging and informative session for retailers.
“It’s not only a brand-new technology, but there are also a lot of myths and misinformation surrounding EVs, particularly second-hand ones, so being able to see them first hand, to ask questions, and most importantly, get behind the wheel of one, is so important to boosting retailers’ understanding and confidence in selling them.
“Our data show very rapid growth in the used EV market, and with electric set to make up over a third of the 0–5-year-old market by 2026, these sorts of events will play a big role in helping Arval’s retailer partners get ahead of the change.”