Eight out of 10 dealers (83%) say Tesla Model 3s dipping under £10,000 for the first time is a key moment in the used electric car sector, according to June’s Startline Used Car Tracker which questioned 70 dealers.
June’s Startline Used Car Tracker shows 38% say this price point is a psychological barrier for those potentially buying their first EV while 31% say consumers view the Model 3 as a practical, well-equipped family car that just happens to be electric and 17% say Tesla batteries are reliable and lose little range over time.
Just 10% of dealers believe consumers with £10,000 to spend are risk averse and prefer petrol or hybrid, 7% suggest that supply of the Model 3 remains low compared to the overall market and 5% say that there are too many other barriers, such as access to charging, stopping people buying EVs.
The Startline Used Car Tracker also asked dealers which other sub-£10,000 used cars they thought would tempt buyers to electrify.
Responses included the BMW i3 (mentioned by 59%), Peugeot e208 (37%), Hyundai Ioniq (36%), Nissan Leaf (34%), Renault Zoe (17%) and MG4 (14%).
Paul Burgess, CEO at Startline Motor Finance, said: “The volumes of electric cars entering the used market are increasing ever more rapidly and, as a result, prices are falling while choice is increasing.
“There are now a number of options available under £10,000 but the Model 3 is probably the most suitable for everyday family needs, has a good reputation for battery reliability, offers useable range and is well-equipped.
“It is, as many dealers in our research have said, a strong used buy that just happens to be electric and at under £10,000, may convince many more people to go electric.”
