When the MG dealer told Richard Hilder his new MG 4 EV had finally arrived after six months of waiting, the Derby-based business manager was elated. But then came the shock: a day later, the dealer phoned again to say his Citroën ë-C4 was no longer worth £20,900 but £16,000, so could he please find a £2000 up-front deposit and accept another £36 per month on his four-year PCP deal?
“Having waited for six months and genuinely looked forward to the car, it was like being slapped round the face then punched in the gut,” Hilder told Autocar.
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I have been seeing what cars on Autotrader are advertised at and putting the REG in We Buy Anycar and Motorway and the gap is huge for electric cars nearly £10000 in some cases
People need to see what their car is worth before commiting to a purchase
Part of the problem must surely also be that whilst EVs are a no-brainer for new company-car purchases because of advantageous tax, this tax benefit doesn't exist for the used car buyer.
I think this is a result of multiple factors. Firstly the fact that supply issues across the board for new cars have eased, and the fact that used car values have subsequently dropped means used electric cars need to compete with lower priced ICE cars. And secondly. Electric new prices are too high, so combine with the above there is no way they can compete at lower levels of depreciation