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Start promoting EVs to used market, says auction house

Date: 28 June 2017   |   Author: Daniel Puddicombe

Remarketing company Shoreham Vehicle Auctions (SVA) has called on leasing companies to "get off the fence" and start embracing EVs.

Shoreham claims that, at present, leasing businesses are looking for reasons to penalise EV drivers with high contract hire rates, which hurts residual values.

However, the firm says that if leasing companies educated the used market about the benefits of EVs then demand will increase and prices will rise.

To combat the problem, SVA has launched a training scheme aimed at encouraging used car buyers to purchase EVs at auction. The firm claims the free courses have been oversubscribed and that one dealer reported an eight-fold interest in used EVs a month after attending the briefing.

The sessions cover questions second-hand car buyers are likely to ask, such as charge point compatibility and vehicle running costs.

Following the success of the initial sessions, the remarketing company said it plans to launch a similar scheme on electric LCVs in association with the Energy Saving Trust.

"Educating used-car traders about the benefits of EVs has given them the confidence to buy them at auction as part of their used car stock mix," said SVA managing director Alex Wright. "We are already seeing cars like the Nissan Leaf and Renault Zoe more readily purchased at market values, but the onus is now on the leasing sector to step up to the plate and help educate the used market if it wants to actively help promote the new technology."

He added: "If the leasing industry does not wake up to the potential of EVs and the fact they are the future, then both new and used EV sales will be adversely affected."



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