Electric vehicles (EVs) being de-fleeted are taking more than twice as long to sell as internal combustion engine (ICE) models, new research from Epyx suggests.
Analysis of data from its 1link Disposal Network platform show that petrol cars and vans are taking an average of 10 days to sell, and diesel 11. However, it also reveals that ex-fleet EVs are taking, on average, 25 days to sell.
The trend remains the same when that data is split down into online and physical auction sales. When sold online, petrol takes five days, diesel six days and EVs 11 days; at auction, petrol and diesel both take 15 days and EVs 33 days, on average.
Tim Meadows, chief operating officer at Epyx, believes that these figures are reflective of what is happening across the industry as a whole.
“It’s no secret that the market for EVs has been pretty volatile in recent months and this is almost certainly having an effect on dealer’s propensity to take on this stock,” he said.
“However, 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.