6 days ago
Used car dealers need more support from manufacturers and the government in order to sell second-hand electric cars.
That is the verdict of Carwow’s Sally Foote, who believes there is still a ‘high reluctance’ from used car retailers to stock EVs.
Appearing on the latest episode of the Car Dealer Podcast, Foote said that figures show there is high demand for second-hand electric cars, but that stock is not flowing into the market.
Carwow’s Sell My Car chief commercial officer put this down to dealers still being concerned about selling, servicing and warrantying used EVs.
Speaking with regular podcast hosts James Baggott and Jon Reay, Foote said: ‘I would back used EVs. I think we’re seeing such a high appetite for them at the moment and we are still seeing across our platform, and with dealers that we talk to, a really high reluctance in stocking used EVs.
‘Partners have told us that their teams have never even potentially driven or sold these cars before. They have a real uncertainty about selling them. They’re worried about their ability to service them and warranty them, they’re worried about batteries, all of the concerns about stocking them.
‘As a result, we’ve got this increasing buyer appetite for these cars and you’re seeing that come through in some of the stock turn figures.
‘I think it was Motors that reported being the Telsa Model 3 being fastest stock turn car in November. I remember I was like, “Well, yeah, because these cars are in demand and they’re not widely available through the used network”.
‘If you think about the volume of used cars that have gone through leasing schemes, salary sacrifice, et cetera, that are coming into that used car parc, the incentives have got to be around supporting used dealers to sell those cars.’
Speaking about how the current situation could be rectified, Foote called on manufacturers and the government to step in and provide additional support to dealers who want help.
She added: ‘I don’t know exactly what that looks like, but that is where I’d want to see something of a government focus, particularly because that is where these cars get affordable for a much broader spectrum of the population.
‘We are seeing, people are interested in EVs. They can’t afford a new EV, but they are very interested in a used EV and that stock is just not flowing back into the consumer market in the way that you’d hope because used dealers are still very nervous about stocking them and need more support to be able to do that.
‘I think that’s both from manufacturers and from government incentives.’
The Car Dealer Podcast, sponsored by Carwow, sees an industry guest join our hosts to discuss the motor trade’s biggest headlines of every week.
A full list of the stories discussed on this week’s episode can be found here.
You can listen to all episodes of the Car Dealer Podcast on Spotify, or wherever you get your podcasts.
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