There is “work to be done” for manufacturers overall on the used electric car proposition, or else it could end up undermining the hitherto positive upward trend in sales of new electric vehicles. “If OEMs can’t get used and new as strong, then the new proposition won’t be as compelling.” Indeed, why would you buy a new electric car at a price far above a combustion-engined equivalent when you know that its value will soon plummet?
Edwards spoke of conversations that dealers were having to have with customers in light of this fall in values, something that’s amplified by the wait times on new cars. “If you ordered your car a year ago, your car as part exchange will have devalued since. It’s a challenging conversation to have, but it’s a conversation that needs to happen.”
Car dealers will now be looking to manage used stock carefully, says Edwards, adding EV inventory only at the right price and reducing prices of old stock to ensure it is moved on. Gibbs’ story reports Auto Trader data showing EVs were the slowest-selling fuel type in February, with Audi Q4 E-trons taking almost three months on average to sell.
However, there’s far better news on the new car side, where Edwards says Sytner is “selling every car we can get at the moment”. Enquiries have remained constant throughout the supply shortage, and although supply was improving “marginally” it was still a year-long wait ahead of many models.
