'Bleak' and 'disappointing' - that's how RV expert Cap sums up electric vehicles
19 December 2011
Author: Jack Carfrae
Residual value expert Cap believes that electric vehicles are having a minimal impact on both the fleet and retail sectors and that there is little hope for them with the stronghold of internal combustion engines and the advent of other alternative fuels.
Speaking at the BVRLA conference, Cap's manufacturer relations manager Martin Ward said of EVs: "Never before in the history of the motor industry have so many been involved to sell so few."
He continued to say that around 400 EVs have been sold in the UK so far, around 300 of which have gone to the fleet sector.
Ward also highlighted the problems that overseas markets are having with EV sales, despite even heavier incentives than in the UK: "The Dutch government wants a million EVs on the road by 2020 and they've gone all out to persuade drivers to take them up, but only 198 have been sold. It's not promising. The words that are being used are 'bleak' and 'disappointing.'"
Ward stated that the chances of EVs becoming popular on the used market were equally slim and that their residual values are likely to suffer as a result.