Over a quick beer (yes, a bit of a recurring theme here I know) a pal quizzed me on what would make a great, reasonably priced, economical, and fairly recent used car.
The look of sheer disbelief on their face was as obvious as Donald Trump’s disdain for traditional diplomacy when I dared to suggest they consider a used EV—or, to use its full name, a battery electric vehicle (BEV)!
A swift search on AutoTrader was all it took to show just how close in price internal combustion engine (ICE) vehicles and their BEV equivalents have become in many cases.
Take, for example, a 2022 Vauxhall Corsa Elite 1.2T petrol and its electric counterpart—the prices were nearly identical, and so were the PCP (personal contract purchase) figures!
But here’s where the electric version truly shines: if you can charge at home using an overnight electricity tariff, you could save at least £70 per month on fuel, assuming an annual mileage of 10,000 miles. Even on a standard daytime rate, the savings would still be over £40 a month. Impressive, right?
Repeating this comparison across other brands and models revealed the same story —EVs are no longer necessarily the premium-priced anomalies they once were.
Yet, what stood out for me was the limited number of independent dealers stocking used EVs (certainly the case in my neck of the woods). Apart from franchised dealers, a few EV specialists, and the big car supermarkets, most independent garages seem hesitant to dive into the used EV market.
It’s understandable—residual value fluctuations and uncertain consumer uptake have created a challenging landscape. Why make an already tough job even tougher? Add to this the fact that most independents haven’t had the same level of EV training as their franchised counterparts, leading to a lack of confidence in discussing the benefits with customers.
But here’s the thing—both for dealers and customers, used BEVs increasingly represent the best solution. For dealers, they offer a strong profit opportunity. For customers, they can provide incredibly cost-effective motoring - as well as a superb driving experience. And latest market insights show that used BEV values have stabilised.
So, has the tipping point tipped? Well I’d say its very close in a lot of cases!
As always, I’d love to hear your thoughts. And if you’re a dealer looking for unbiased insights and guidance on how best to present the advantages of an EV to your customers, don’t hesitate to reach out.
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