Two in three EV car buyers expect to buy used rather than new, survey finds

  • Two in three (65 per cent) considering an EV as their next car expect to buy second-hand
  • eBay Motors Group quizzed 2,000 people last month
  • Survey also highlighted main concerns of consumers considering buying a used EV

Time 5:59 am, October 14, 2023

Two in three buyers who are considering buying an electric car expect to go for a used one rather than new.

That’s the finding of a new survey from eBay Motors Group, which quizzed 2,000 in-market car buyers last month.

Moreover, the survey found buying a used EV appeals more to women (69 per cent) than men (61 per cent), although they were evenly split (30 per cent) when considering nearly-new EVs less than two years old.

The survey also highlighted the main concerns of consumers considering buying a used EV.

Jointly topping the list were the cost to buy being too high (43 per cent) and worries over the quality and performance of batteries (43 per cent).

Women were more concerned about costs (46 per cent), while men were most concerned about the state of batteries (45 per cent).

Other concerns included maintenance and servicing costs (28 per cent), range being less than with new EVs (28 per cent) and uncertainty over what constitutes reasonable mileage (27 per cent).

However, only 15 per cent were concerned about lower resale values and 14 per cent poor finance deals.

eBay Motors Group marketing director Lucy Tugby said: ‘With rising new EV registrations gradually generating more volumes in the used market, buying secondhand is becoming a realistic consideration for a growing number of car buyers.’

‘Our research shows how two in three decision makers considering buying an EV as their next car will realistically think about buying used, although the actual cost of purchase remains a significant barrier for many.

‘However, we believe this will be gradually addressed by the ongoing downward realignment of wholesale values which in turn will give dealers more confidence to source EV stock and pass on savings to customers ready to transition away from petrol and diesel.

‘Concerns over battery life are understandable but generally unfounded as the latest generation of EVs enter the used market.

‘Dealers will have a role to play to help alleviate these concerns, a task made easier by the OEMs who have extended warranty cover on their batteries.’

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer. In October 2021 he became Car Dealer's associate editor.

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