9:03 am, August 18, 2020
A new warranty is poised to play a key role in building consumer confidence in used electric vehicles and hybrids.
That’s according to the RAC Dealer Network, which says EV One – designed by Assurant, its partner in the aftersales sector – will be good for any used EV or hybrid up to eight years old and with 80,000 miles on the clock when it was bought.
Sean Kent, RAC director of sales at Assurant, said: ‘This is a very timely development, with EVs and hybrids – especially plug-ins – starting to appear on the used market in larger numbers and, for the first time really, outside of franchise dealer networks.
‘There is massive public interest in these vehicles but used car customers tend to be quite conservative in their buying choices.
‘The new warranty, which provides the most comprehensive level of cover we have yet offered, is designed to deliver the peace of mind needed for them to feel comfortable with moving away from petrol and diesel power.
‘We believe that it could play a key part in building consumer confidence in EVs and hybrids across the market in a general sense, helping to foster their acceptance as a legitimate and attractive choice in the used car sector.’
He added: ‘As demand for EV and hybrids grows, car buyers are going to expect dealers to provide them as part of their stock mix, and the new warranty provides a cornerstone for new sales propositions for these kinds of vehicles.
‘It is very much a further development in our ongoing philosophy of giving dealers the support that they need by providing them with products that meet changing customer requirements.’
The warranty covers all the key components in the EV drivetrain and charge system except the batteries.
‘While the battery is clearly an area of concern for car buyers, EV and hybrid manufacturers, almost uniformly, include comprehensive battery warranties, typically eight years and 100,000 miles, so our product is designed around this existing cover,’ said Kent.
It is being made available to all the network’s 1,500 dealers, with cover for various periods up to 24 months.
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