Less than 3% of vehicles sold at auction are ‘alternative fuel’, and when they do come to auction, they can take on average four times longer to sell than petrol or diesel, according to the latest figures from Venson Automotive Solutions.
However, while diesel vehicles still rule the road, hybrid vehicles are performing better than pure electric models, at auction. Gil Kelly, operations director for Venson, explained: “The average values obtained for electric vehicles tend to be lower than hybrids, which we see perform well, particularly the higher spec models. However, the average value of hybrids still falls slightly behind standard diesel models.
“On the whole, we’re seeing less demand for used alternative-fuel cars, particularly electric, among trade and private car buyers. We find buyers are generally more comfortable with hybrids, as they are seen to be a more practical option.
“Although there is more choice of electric vehicles in the new market, and there is a bigger uptake generally of new models, there is still a worry about the limitations of the technology. Battery range anxiety is still a key hurdle for many along with the practicalities of charging the vehicle.
“In addition, at Venson, we’ve found that customers buying a used electric car are put off by the prospect of then having to lease the battery on top of the price of the vehicle. This is not a buying model that car owners are used to. Anything that needs a mind-set change from buyers, takes time and education.
“Whilst government incentives are helping to generate interest, we believe it’ll take time before it’s seen as a technology to rival traditional fuel types.”