BCA is reporting rising volumes of electric vehicle sales, with a record week in July as demand continues to climb.

EV sales at BCA reach record levels in July

The first week in July saw nearly 700 electric vehicles sold, with BCA on track to record sales in excess of 30,000 units over the next 12 months. Good demand is leading to greater pricing stability in this sector, with trade buyers recognising that many EVs now appear to be good value in comparison to their ICE equivalent. The last few weeks have seen first time conversions average over 80% across the wide range of EV product on offer at BCA and over 1,200 different customers have purchased EVs since April.

The volumes of EVs reaching the remarketing sector is roughly doubling each year and is expected to increase going forwards as current government policy remains focussed on increasing the car parc share of EVs to meet climate change objectives. The ongoing pressure from the ratcheting up of the ZEV mandate continues to keep many OEMs focussed on shifting product ranges to satisfy the requirements and avoid hefty potential penalties.

BCA COO Stuart Pearson, commented: “Whilst EVs remain a very small percentage of our daily online auctions, a much broader cross-section of buyers have engaged with purchasing them, following a number of significant pricing realignments and much greater stability in the current market. As a result of the growth, BCA have continued to invest in infrastructure to support the increasing volume, along with innovation in the range of product and services we are able to provide our customers to support specific EV requirements.”

He added: “Specialist EV trade buyers at BCA are enjoying significant success right now, mainly driven by their understanding of the marketplace, their product knowledge, and their ability to fill a consumer with the confidence to dispel many of the myths surrounding EV. One of the most significant relates to battery health and supporting warranties and our data shows that, in the majority of cases, the general degradation is far less significant than most people expect. In fact, the warranty on the battery itself far exceeds the warranty traditionally associated with any aspect of an ICE vehicle.”

“Last year BCA sold 32 different brands of EVs and with rising volumes and a wider choice of product from city cars to luxury vehicles, the potential marketplace for used EVs is significant. With many examples also being better value than their petrol or diesel equivalent, it is perhaps a little surprising that uptake from consumers hasn’t been more positive?”

Pearson concluded: “If motor retailers are not looking into the opportunities that the used electric vehicle market represents today, they run the risk of having to play catch-up in the future, because switched-on dealers and EV specialists are enjoying great success right now in terms of profitability and retail stock churn. The first movers definitely have the advantage currently, but with many vehicles having pricing parity to their ICE equivalent, I’m sure that the entrepreneurial nature of the industry will ensure that EVs become a more mainstream used-vehicle feature in even more dealerships relatively quickly.”