Used electric vehicle sales reach record levels at BCA in July

Demand for used electric vehicles (EVs) continues to climb, with BCA reporting a record week in July.

The first week of the month saw almost 700 EVs sold and BCA says it is on track to record sales in excess of 30,000 units over the next 12 months.  

The growing interest, according to the remarketing company, is down to trade buyers beginning to recognise that many EVs now appear to be good value in comparison to their internal combustion engine (ICE) equivalent. 

BCA’s chief operating officer, Stuart Pearson, said: “Whilst EVs remain a very small percentage of our daily online auctions, a much broader cross-section of buyers have engaged with purchasing them, following a number of significant pricing realignments and much greater stability in the current market.”

The past few weeks have seen first time conversions average more than 80% across the wide range of EV product on offer at BCA and in excess of 1,200 different customers have purchased EVs since April.

The volumes of EVs reaching the remarketing sector is roughly doubling each year and is expected to increase going forwards as current Government policy remains focussed on increasing the car parc share of EVs to meet climate change objectives.

“Specialist EV trade buyers at BCA are enjoying significant success right now, mainly driven by their understanding of the marketplace, their product knowledge, and their ability to fill a consumer with the confidence to dispel many of the myths surrounding EV,” explained Pearson.

“One of the most significant relates to battery health and supporting warranties and our data shows that, in the majority of cases, the general degradation is far less significant than most people expect.   

“In fact, the warranty on the battery itself far exceeds the warranty traditionally associated with any aspect of an ICE vehicle.”

Last year, BCA sold 32 different brands of EVs and, it says, with rising volumes and a wider choice of product from city cars to luxury vehicles, the potential marketplace for used EVs is significant.

Pearson added: “With many examples also being better value than their petrol or diesel equivalent, it is perhaps a little surprising that uptake from consumers hasn’t been more positive?”