Fears of a ‘price correction’ for used electric vehicles (EVs) have been played down by pricing experts.
It comes after the boss of the UK’s largest leasing, Lex Autolease, warned that plug-in residual values (RVs) could dip dramatically, due to their high resale value when compared with diesel or petrol alternatives.
Richard Jones, managing director of Lex Autolease and Black Horse, said: “The big issue that still faces EVs goes back to the list price.”
He explained: “Because list prices are so much higher, the drive is to set the RVs quite strongly as a percentage of those list prices. It means the RV relative to an ICE (internal combustion engine) vehicle is still higher.”
Jones believes that’s a problem for the used market. “If that pervades at scale then at some point it’s going to lead to a correction and that then damages the adoption curve of EVs in the…