Selling times for ex-fleet electric vehicles are more than twice as long as internal combustion engine (ICE) models, according to GBFE exhibitor epyx – but it says the situation could change relatively quickly.
Electric vehicles take an average of 25 days to sell to dealers, the 1link Disposal Network platform has revealed. That’s compared to 10 days for petrol cars/vans and 11 for diesels.
It’s the same trend when the data is split into online and physical auction sales. When sold online, petrol takes five days, diesel six and EVs are 11; at auction, petrol and diesel both take 15 days and EVs are up to 33.
The figures are believed to be “almost certainly” reflective of what is happening across the industry as a whole, amid a volatile market for EVs.
But Tim Meadows, chief operating officer (pictured), added: “Against that development should be balanced the fact that now, something like one in six vehicles for sale on 1link Disposal Network at any time are EVs. This represents huge volume growth in this sector over a relatively short period of time.
“Our view is that EV sales might appear sluggish compared to ICE but it must be remembered that this is still a type of used vehicle that is relatively new to the market. Dealers and end users remain often unfamiliar with the technology and there is much misinformation around.”
Meadows also said the speed of sale for EVs could actually be viewed as a positive, given the nascent industry, and could ramp up fast.
“There is every chance that excessive supply and demand for EVs will switch places several times before the market reaches a point of relative stabilisation. Today’s situation could change quite quickly.”
Established in 2005, the 1link Disposal Network is one of the longest-established online sales channels used by major fleets to sell cars, vans and trucks to vehicle retailers, and is on track to imminently rack up its 500,00oth sale.
To find out more about epyx and its 1link Disposal Network, sign up for a free ticket to see the company at the 2023 Great British fleet Event.
