An overwhelming 87% of potential used electric car buyers expressed the importance of obtaining an independent, certified assessment detailing the condition of the vehicle’s battery maintained by previous owners, according to the Startline Used Car Tracker for August.
The latest survey found that a similar 87% of respondents would endorse a thorough evaluation that discloses the care previous owners have taken with their electric vehicle’s battery.
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Moreover, the study found that 83% of consumers are keen to understand the duration required to fully charge the battery while 82% are interested in learning about the battery’s capacity loss since its original purchase.
Additionally, 81% of those surveyed are curious about the potential future capacity loss, and 79% wish to know the current charge level.
Startline Motor Finance CEO Paul Burgess said: “Probably the number one fear that consumers have when buying an electric used car is that the battery will fail or otherwise degrade very quickly. They know that it could cost several thousand pounds to buy a replacement and the value of their car plummet.
“In real-world conditions, these worries are largely proving to be unfounded. There are now millions of electric cars on roads across the world and battery degradation is generally happening much more slowly than anticipated while outright battery failure, while not unknown, remains a rare occurrence.
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By GlobalData“However, used car buyers clearly want reassurance and some form of formal testing that shows the battery of the vehicle they are considering buying has been well-looked-after, with a good idea of how it was likely to perform in the future, is probably the best available solution in this area.”
He mentioned that a promise in the new Labour Government’s manifesto included implementing a standardised battery health inspection.
Burgess added: “In our view, this would be a very good idea. Having a government-backed and approved battery test that provided the information consumers want would be a very real boost for the used electric car market, especially if it was backed by some form of warranty.”
The Startline Used Car Tracker is a monthly compilation by Startline Motor Finance in collaboration with APD Global Research. The latest research included responses from 321 consumers and 62 dealers.
The Startline Used Car Tracker for July revealed that nearly 60% of dealers are optimistic about the used car market’s performance in the latter half of 2024.
