Independent dealers ‘reluctant’ to stock EVs

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Just 17% of independent dealers stocked and advertised an EV last month compared to 43% of franchised dealers and 49% of car supermarkets, according to data from cap hpi.

EV volumes are expected to increase in the coming months, many models are attractively priced.

Derren Martin, director of valuations at cap hpi, said: “Our data shows that many dealers seem reluctant to stock EVs despite rising demand from consumers. If the ZEV mandate is to work effectively, every new car needs a used buyer later in life, and dealers have a role to play in building their local markets.

“At current prices, many used EVs represent great value to drivers against new and a low total cost of ownership. Our data shows that many EVs are a great profit opportunity for dealers, and tend to sell quickly from forecourts.”

Although some models stabilised or increased in value in Q1 others have decreased in price. EVs represent good value for money in general and when compared to the equivalent petrol model. Early this month average values for EVs dropped 2.2% at the three-year age point.

Buyer demand in the used marketplace for other fuel types has returned to historical seasonal levels. Demand has increased and is expected to remain high.

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