Recent research by Cox Automotive and Regit revealed that 69% of drivers wouldn’t be willing to pay more for an EV than for a petrol or diesel alternative. Price parity is emerging as used EV availability increases and petrol and diesel availability, especially in the New -3 age range, starts to decline. The prospect of lower-priced used EVs looks set to help drive their sales, aided by their lower running cost and reducing concerns about range and battery degradation.
While generally optimistic about used EV sales, some uncertainties remain, including regulatory and tax changes. These include VAT charges on public charging and the introduction of charging for Vehicle Excise Duty (road tax).
However, these factors may also affect petrol and diesel cars, particularly the substantial increases in road tax, especially for vehicles with higher pollution levels. Furthermore, the decline in new diesel sales in recent years means that, although there may be demand for used diesel cars, the supply is insufficient, which could drive up the prices of used diesel vehicles.
