Most car buyers are still reluctant to consider purchasing a used electric vehicle (EV), despite falling prices and increased availability, according to new research from JudgeService.
In a survey of 5,789 buyers, just over half said they were not interested in buying a used EV, while only 20% said they would consider it. Older buyers, particularly those over 56, were the most resistant, with more than half unwilling to purchase a used EV. Meanwhile, younger buyers aged 26-35 were the most open to the idea.
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The study identified three main barriers that continue to deter potential EV buyers: purchase cost, lack of public charging points, and concerns about range. Although these concerns have eased somewhat over the past year, they remain significant obstacles. The cost of buying an EV was a deal breaker for 51% of respondents, down from 63% in 2023. Concerns about the availability of charging points affected 45% of buyers, down from 58% last year, while 40% still worry about the range, a slight decrease from 46% in 2023.
The only growing concern was around trust in EV technology, with 24% citing it as an issue, up from 19% last year.
“There’s no getting away from the fact that used EVs are a tough sell for many dealers. This is not helped by the perception among consumers that prices are still too high,” said Neil Addley, managing director of JudgeService.
Addley pointed out that dealers can tackle the pricing issue, noting that EV prices have dropped significantly over the past 18 months, bringing them closer to parity with comparable petrol or diesel models. He emphasised that dealers who effectively communicate this to customers are seeing incremental success in used EV sales.
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By GlobalData“Buying an EV is not for everyone,” Addley added. “But as the number of used EVs in the market grows, understanding and addressing these key objections could make a real difference for dealers.”
The survey findings come ahead of the upcoming JudgeService 2024 State of the Nation report, which highlights key market trends for dealers. JudgeService, launched in 2011 by Neil Addley, provides a UK-based customer review platform designed specifically for the car retailing industry.
