Auction company BCA has reported a record week of EV sales amid growing interest in the segment.
It said the first week of July saw nearly 700 EVs sold, and that it was on track for sales in excess of 30,000 over the next 12 months.
BCA said that good demand was leading to greater pricing stability in the sector, with trade buyers recognising that many EVs now appeared to be good value compared with equivalent ICE vehicles.
It said the volumes of EVs coming up for remarketing was roughly doubling each year, and was expected to increase thanks to government policy designed to increase the share of the vehicles on the road.
BCA COO Stuart Pearson said: “Whilst EVs remain a very small percentage of our daily online auctions, a much broader cross-section of buyers have engaged with purchasing them, following a number of significant pricing realignments and much greater stability in the current market.
“Specialist EV trade buyers at BCA are enjoying significant success right now, mainly driven by their understanding of the marketplace, their product knowledge, and their ability to fill a consumer with the confidence to dispel many of the myths surrounding EV.
“One of the most significant relates to battery health and supporting warranties and our data shows that, in the majority of cases, the general degradation is far less significant than most people expect. In fact, the warranty on the battery itself far exceeds the warranty traditionally associated with any aspect of an ICE vehicle.”
