A new study has shown that car dealers, who have started selling electric cars in stock at deep discounts, sometimes reaching more than 50%, are having a significant impact on the prices of used electric cars.
The research states that low-mileage electric cars such as the Nissan Leaf and Opel Mokka Electric can be bought cheaper than their petrol counterparts with similar mileage thanks to existing incentives.
So in the UK, some dealers are selling a 2022 Nissan Leaf with a mileage of 2,000 km for €16,000, which is 54% less than its price according to the insurance companies' valuation catalogue.
The sharp drop in prices of near-new electric cars comes amid efforts by automakers to increase sales of new electric cars to meet their emissions targets and thus avoid hefty fines.
Major manufacturers are also gradually introducing attractive incentives to boost sales of their electric models. Skoda, for example, is currently offering 0% lease finance for the new Enyaq.
Automakers have also begun to reduce deliveries of hybrid vehicles to meet sales targets for electric vehicles. According to Vertu Motors boss Robert Forrester, this is weighing on the car retailer's shares.
Statistically, it takes an average of 46 days to sell an electric car six to 12 months old, while an equivalent petrol car will find a new owner in 33 days, so reducing the price barrier is key.
Electric cars three to four years old (which are much more affordable) take an average of 31 days to sell.