Predictions that electric cars will plummet in value have been
rebutted by endorsement of PCP products by auto giant Nissan.
Specialist used dealer group ACF Car Finance claimed last week
that electric vehicles purchased today could be worth just 10% of
their current price in five years’ time.
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The precipitous drop, says ACF, is because after about eight
years electric batteries will need replacing, costing up to
£8,000.
Leyton Cooper, the group’s buying manager, says the widespread
usage of electric cars in future will depend on a flourishing
second-hand market. At present, he argues, many customers are
likely to steer clear of buying electric models more than a couple
of years old.
However, Nissan product communication manager Terry
Steeden today took a different view. He pointed out that,
whereas a normal Nissan guarantee lasts for three years, for
electric vehicles the battery and all the electrical components,
including the motor, are guaranteed for five years. However, this
does not refute ACF’s assertion about battery replacement in year
eight.
However, Steeden offered the use of PCP product as a solution to
this problem. “I really don’t see an issue with the residual value
as we provide a PCP product so the customer can return the
vehicle,” he said.
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By GlobalData“We have confidence in our product and offering. We would expect
the battery’s capacity to decay by 80% after five years, but
thereafter the rate of decline reduces.
“Also our battery comprises 48 individual modules, so drivers
can identify which module has failed and replace it. As for prices,
nothing’s confirmed or fixed yet and all our batteries are all
still under warranty. The £8,000 figure is pure speculation.”
However Steddon said he couldn’t yet comment on the likely cost of
each individual battery module.
Steeden added: “Technology will improve and the future of these
cars is looking better as each year passes.”
