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May 17, 2022

Local charger availability limiting dealers’ EV potential: VRA

By Motor Finance

Poor local availability of charging facilities is hampering the ability of dealers to retail both new and used electric vehicles (EVs) to “a surprisingly large degree,” the Vehicle Remarketing Association (VRA) is reporting.

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Philip Nothard, VRA chair, said that the issue appeared to be especially the case in areas where consumers rarely had off-road parking and so could not have their own charger fitted at home.

He explained: “When it comes to EV adoption, there is a direct link between easy availability of charging and the overall likelihood that consumers will make the switch to electrification.

“These are decisions that tend to be made on a local basis. Motorists can see whether chargers in their area are around in large numbers and make an assessment about how easy it is likely to be to use an EV.

“In places where most homes have drives, the problem is much less acute because people will tend to have their own charger fitted but in other locations – especially cities – where apartments and terraced houses are the norm, it is a genuine issue.

“While many dealers now have a much-enlarged customer footprint thanks to digital retailing, most will still make the majority of their sales to customers within a radius of a few miles. If you are trying to sell new and used EVs in places where there are few visible chargers, it is proving to be an issue to a perhaps surprisingly large degree.”

Nothard of the VRA said that the remarketing sector was carefully monitoring government plans to increase the charging infrastructure across the UK for this reason.

“It does very much create a chicken and egg situation. Unless there are a lot of EVs sold in an area, there is no demand for charging but unless there is a lot of visible charging, there is reduced demand for EV sales.

“Really, it means that some dealers are finding themselves in a position where they are waiting for national and local government, and charging providers, to install off-road charging on a widespread basis before they can seriously look at retailing EVs.

“We don’t see any other solution to this problem and, with increasing numbers of EVs starting to appear in the new and used markets, it does create an issue. The process of electrification of the vehicle parc across the country may well turn out to be relatively patchy for some time to come,” Nothard said.

RAC embarks on a dealer recruitment drive

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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