Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt Ex-fleet EVs taking more than twice as long to sell to dealers as petrol or diesel vehicles, Epyx reports
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Ex-fleet EVs taking more than twice as long to sell to dealers as petrol or diesel vehicles, Epyx reports

Date: 21 March 2023   |   Author: Sean Keywood

The length of time taken for de-fleeted EVs to find a buyer is more than double that for petrol and diesel vehicles, according to software firm Epyx.

Taking data from its 1link Disposal Network platform, it said that on average petrol vehicles were taking 10 days to sell, and diesels 11 days, but EVs 25 days.

The company did caution, however, that this situation could change relatively quickly.

The trend is the same when the data is split between online and physical auction sales, with petrol vehicle sales taking on average five days and 15 days respectively, diesels six and 15 days, and EVs 11 and 33 days.

Epyx chief operating officer Tim Meadows said: "We believe that these figures are almost certainly reflective of what is happening across the industry as a whole. 

"It's no secret that the market for EVs has been pretty volatile in recent months and this is almost certainly having an effect on dealer's propensity to take on this stock.

"However, against that development should be balanced the fact that now, something like one in six vehicles for sale on 1link Disposal Network at any time are EVs. This represents huge volume growth in this sector over a relatively short period of time."

Meadows said that, while EV sales might currently appear sluggish compared to petrol and diesel vehicles, it should be remembered that they were still a type of used vehicle that was relatively new to the market. 

He said: "Dealers and end users remain often unfamiliar with the technology and there is much misinformation around.

"Ultimately, the speed at which they are selling could conceivably be viewed as a positive and there is every chance that excessive supply and demand for EVs will switch places several times before the market reaches a point of relative stabilisation. Today's situation could change quite quickly."

 

 

 

 



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