EVs should have "best before" date to show limited shelf life
Alan Senior, head of valuation services at VIPDATA, said: ‘They are effectively perishable goods with a limited shelf life.
‘There is no doubt that Electric Vehicles (EVs) will have a part to play in the very near future,’ added Mr Senior. ‘Yes, they have problems, mainly charging time and limited range, but they also bring convenience as well as conscience-free motoring. But they have to be cheaper than an equivalent diesel for most buyers.
‘So in the future would you buy a second-hand EV? If so, would you want the battery included or prefer a risk-free lease? Used sales of electric hybrids have not been without their problems.
‘When something goes wrong it’s an expensive fix. So outside the dealer network, which includes most vehicles over two to three years old and all high mileage, poorly specced and average condition models, they have to be cheap.
‘So maybe these cars will only have any significant value if they are less than three years old, low mileage and being retailed and supported by the relevant dealer network warranty.
‘Once outside this protective cocoon, the values will be significantly lower, whether the battery is leased or not. In other words electric vehicles will have a limited shelf life – they are effectively perishable goods. And as such perhaps they should carry a best before date?’For more of the latest industry news, click here.