A lack of information surrounding electric vehicle batteries is affecting resale values according to Shoreham Vehicle Auctions.
The firm claims that due to the lack of information provided by car makers about the cost of maintaining or replacing batteries and an absence of short-term battery loans or warranties is causing concern among dealers should the car run into trouble after a customer has bought the vehicle second-hand.
A replacement battery could cost between £8000 and £10,000, according to the firm, and it says dealers were reluctant to stock electric vehicles as a result. Shoreham has suggested that manufactures introduce a flexible leasing and warranty schem when the batteries reach the end of their operational life.
The auction house suggested charging between £40 and £100 a month to lease a new battery, which would allay concerns for cars between four and 10 years old..
The vehicle auction house believes that if manufactures introduced a lease or warranty than it would give drivers a peace of mind, boosting new and used EV sales in the process.
Alex Wright, managing director of Shoreham Vehicle Auctions said:
“Manufactures must remember the importance of sustaining strong older RV because RVs are built from the ground.
“By looking after your 10 year RVs they will look after your eight to six and four to two.”
He continued: “[We] witness performances of used vehicles under the hammer on a daily bases and as such knows what buttons to press in order to keep RVs high and maintain a strong demand for specific vehicles”.