The electric vehicle (EV) revolution is in full swing, and it’s no longer just about brand-new models hitting the market. EVs take record annual volume and market share at 19.6%, but figure still below mandated levels.
Private consumer demand contracts to levels last seen in pandemic with just one in 10 private buyers going electric in 2024 Despite the electric vehicle push, 70 per cent of drivers still opt for petrol cars.*
While affordability and sustainability drive many buyers towards used EVs, it’s crucial to recognise the unique nature of electric vehicles—and why securing a warranty is essential for peace of mind. That’s where Warrantywise comes in, offering both a standard EV plan as well as an EV Plus plan to protect your investment.
Why the Used EV Market Is Improving.
A combination of factors is fuelling the rapid expansion of the second-hand EV market. First, significant advancements in battery technology have eased concerns about longevity, making pre-owned electric cars a more viable choice. Additionally, falling prices—driven by increased production and government incentives—have made EVs more accessible to a broader range of consumers.
Moreover, running costs for EVs are substantially lower than their petrol or diesel counterparts. Drivers enjoy savings on fuel, maintenance, and even tax incentives in many regions. With more charging infrastructure being developed across the UK, range anxiety is becoming less of a barrier, encouraging even more consumers to consider going electric.
However, while the benefits of owning an EV are compelling, there are still risks associated with purchasing a used one. Understanding how to mitigate those risks is vital for ensuring long-term satisfaction with your purchase.
As the automotive industry shifts towards electric vehicles (EVs), dealerships must adapt to the growing demand for used EVs. Unlike traditional internal combustion engine (ICE) vehicles, EVs have unique components that require specialised maintenance and repairs. Without a robust warranty in place, used EV buyers risk expensive repair costs—something that can impact their purchasing decision and ultimately affect dealership sales and customer satisfaction.
Why Used EVs Need a Warranty
While EVs generally have fewer moving parts, the components they do have are critical and costly to repair if they fail. in our EV warranty – Without a warranty, used EV owners may face significant repair bills for critical components like the drive battery, auxiliary battery, onboard charger, AC power inverter, DC-to-DC converter, and traction motor.
As dealerships sell more used EVs, ensuring financial protection for buyers becomes essential. Offering a Warrantywise EV warranty means your customers can purchase with confidence, knowing they’re protected from unexpected repair costs that are subject to their plan terms and conditions.
Stay Ahead in the EV Market with Warrantywise
Be powered for the future with Warrantywise The future of transportation is electric, and as demand for used EVs grows, dealerships must adapt to customer expectations. By partnering with Warrantywise, you can provide buyers with the protection they need, ensuring they drive away with confidence—and keep coming back to your dealership.
Give your customers peace of mind with a Warrantywise EV warranty—so they can drive with confidence! Empower your customers to drive their EV with confidence. today!
*The survey data cited in this guide was compiled from research conducted by OnePoll in partnership with Warrantywise in 2024. The survey was based on responses from a representative sample of 2,000 UK: Car owners.
