lower than that achieved by their ICE equivalents but not outside of our expectations.”
Niche players will capitalise on the reluctance of others to speculate on an uncertain market. “We are working with some specialist buyers that only trade EVs and they are prepared to stock some vehicles,” said Alex Wright, managing director of Shoreham Vehicle Auctions. At rival firm Aston Barclay, Geoff
Flood, national LCV manager, noted: “Some of our buyers predominantly sell EVs and hybrids and they are more prepared to buy vehicles for stock while others are buying vehicles based on their perceived value.”
The trade is very price conscious and Manheim’s Davock says the recent softening in values has seen interest gain momentum. “Recent market price movements mean the typical used e-LCV is now cheaper than its diesel counterpart, in some cases by as much as 50–60%. “This shift has not gone unnoticed by the trade and with the risk diluted, increasing numbers are prepared to dip a toe in the water.” Cap-hpi’s Pullen has also noticed parity between supply, price and demand appearing. “Some have already reached the bottom of the curve. VW’s ABT eTransporter, first gen Kangoo ZE and eSprinter, [are] all very poor
examples of an EV with very low CAP figures but [are] now showing patchy over performance in some sales. Most others are still on the curve down but should bottom out in the next couple of months.”
There is reason to be optimistic surrounding the long-term future, Glass’s Picton suggested. “Demand will grow as an increasing number of ULEZ/CAZ are introduced and more widely, operators realise that there is a role for a used EV. “As more EVs enter the used market, prices will find their level,” he predicted. The potential impact of low-emission zones is also noted by Davock. “The other factor influencing stocking
decisions today is the expansion of the ULEZ in London and Bristol. “It’s too early to read much into the numbers but there is a general feeling that some customers, particularly those supplying into these regions, are currently taking a greater interest in EVs as well as compliant ICE variants. Again, price has to be an influence here.” Aston Barclay’s Flood added: “When we look at how the used EV car market has evolved, it is certainly very encouraging for vans. “It’s going to take time for the market to settle down, however, once more dealers and end user operators understand EVs in more detail, prices and demand will rise.”
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