There has been a dramatic rise in the number of used electric and hybrid vehicles being bought by British motorists, according to Experian Automotive.
Used electric car sales rose by 47.10 per cent and hybrid used car sales rose by 24.16 per cent in the first quarter of 2014 compared to the same period 12 months ago. Although sales figures still lag a long way behind other used car categories, this sizable upturn in interest is indicative of the increasing popularity of these more environmentally friendly vehicles.
For any motor trader looking to either sell or undertake repair work on electric cars, it is important they check that their road risks insurance policy covers their staff to drive this type of vehicle. It can often be necessary to obtain specific policies for specialist categories of vehicle, such as vintage or powerful cars.
Andrew Ballard, principal consultant for Experian Automotive, commented on the findings: “Whilst low in number in absolute terms, we have undoubtedly seen an increase in electric and hybrid vehicles in new car sales, over the past few years.
“This has been encouraged by not only the vehicles’ known benefits, such as zero or minimal emissions and their exemption from road tax; but by the government subsidies given to drivers upon purchase.
“However electric vehicles tend to suffer from higher levels of depreciation according to the UK valuation guides, this is likely to be due to in part to the subsidy impact when new, which makes them exceptionally good value for money vehicle in the second hand market.”
