Leasing companies are being urged to cut monthly costs on electric vehicles by taking action to increase residual values through used buyer education.

Alex Wright, managing director at Shoreham Vehicle Auctions.

The call comes from Shoreham Vehicle Auctions (SVA), which says leasing firms are currently “sitting on the fence” on EVs and should instead be embracing them.

Alex Wright, managing director at SVA, said that the company’s own measures, including its independent dealer training scheme to encourage more buyers to purchase EVs at auction, is already reaping results and urged leasing companies to “step up to the plate and help educate the used market if it wants to actively help promote the new technology”.

Wright added: “If the leasing industry does not wake up to the potential of EVs and the fact they are the future then both new and used EV sales will be adversely affected.
“We have embarked on an extensive training programme to encourage buyers to opt for EVs when appropriate and it’s working, but we are just one auction house on the south coast so our impact, whilst important, is limited whereas the fleet sector’s acceptance of EVs would have a national effect on stimulating both new and used EV sales.”

Run in partnership with the Energy Saving Trust, SVA’s free EV training is designed to give dealers the knowledge and confidence to sell electric vehicles to both trade and private buyers, by tackling questions such as charge point compatibility, how the buyer will use the vehicle as part of their every day travel and associated running costs, including charging. If sales people focus on selling EVs to the right customers, they will be really happy with their purchase.

Already the courses – which have been oversubscribed – are said to have led to cars like the Nissan Leaf and Renault Zoe being more readily purchased at market values and SVA is now planning to implement dedicated training sessions with the EST on electric LCVs.