Norfolk used car dealerships don't want electric cars

Although they’ve technically been around since the 1880s modern electric vehicles as we know them first rolled into the mainstream consumer market around 15 years ago.

Plug-in EVs, including the Tesla Roadster, the Chevy Volt, and the Nissan Electric Leaf, made their debut as high-tech, green alternatives to petrol and diesel cars in a flurry of new launches between 2008 and 2012, catching the attention of environmentally-minded motorists and making Elon Musk a household name.

Car dealers are turning their backs on electric vehicles, with more than half confessing they’re wary of buying them to stock their forecourts (Image: Newsquest)

Demand continued to rise steadily over the next several years, with sales hitting their peak in 2021, when more EVs were sold than in the previous five years combined.

And then came 2023. 

Despite predictions that ownership would carry on rising at similar levels, last year the percentage decreased for the first time in almost two decades. 

That trend has continued, with official figures showing that sales of EVs to ordinary drivers fell by almost a fifth in the first two months of 2024.

Of nearly 40,000 new electric cars registered in January and February, just 6,500 were purchased by individuals. 

The remaining 33,500 - around 84pc of all registrations in the two months - were bought by fleet and leasing companies as a result of lucrative tax benefits, including the salary sacrifice scheme.

In response to dwindling sales, in January last year manufacturers started slashing the price of even their most popular models, with Tesla lopping thousands of pounds off its two best-selling cars and EV owners seeing the value of their cars plummet overnight. 

Now, despite a government goal to completely phase out petrol, diesel and hybrid vehicles by 2035, dealerships are turning their backs on electric models, with more than half saying their intention to purchase EVs has declined, according to a survey by trading platform HonkHonk.

Sebastien Duval, chief executive of HonkHonk, said: “Right now, dealers can't get enough small or medium petrol cars, medium diesels and even hybrids, since the market began recovering in 2024. 

“But less than one in 10 want to snap up a battery EV car more than they did a year ago.”

This refusal to take on fresh stocks of EVs could push values even lower, with dealers warning that unless technology and infrastructure greatly improve, this type of vehicle “won’t be worth the risk” for most.

EXPENSIVE, VOLATILE, IMPRACTICAL

Although recent price cuts had a significant impact on the value of used models, Ian Stackman, the director of Guaranteed Motors in Bury St Edmunds, said used EVs had been notorious for shedding their value forever.

Unlike petrol and diesel cars, which are built from hundreds of different components, electric vehicles only have two “proper” parts: an engine and a battery.

That means that when something goes wrong, the whole battery must be replaced, costing anywhere between £4,000 for a cheap hybrid vehicle and £20,000 for luxury models.

Because of this, Mr Stackman said EVs are a far riskier investment.

Ian Stackman, the director of Guaranteed Motors in Bury St Edmunds (Image: Guaranteed Motors)

He said: “The elephant in the room is that these vehicles need new batteries every eight to 10 years, which is hugely expensive.

“It's not like a petrol or diesel car where you can elongate their life with regular servicing. 

“It's very hard to know how long a battery has left, because it's not just about the age, but also environmental factors like the weather it's been exposed to.

“I offer a six month guarantee for all vehicles, so if I sell an EV and a month later the battery dies, that’s a very expensive problem for me.

“In an already volatile market, most dealers just don’t want that added risk.”

What’s more, he said a lack of charging infrastructure was discouraging many people from making the switch.

Despite £57m of government and private funding being invested into creating new charging points in 2023, local authorities said they’re struggling to implement their electric vehicle infrastructure plans.

Mr Stackman said: “Even though we’re pretty well equipped with charging points in East Anglia, there’s still nowhere near enough in the UK to support the government’s goals.

“Anyone who has to drive around the country a lot would be painfully aware of the problem with EVs. 

“Who wants to sit at Tesco for three hours waiting for their car to charge?”

EVERYONE WANTS TO KILL THEM

But not everyone agrees with Mr Stackman.

Paul Hewitt, director of the Norwich Motor Company, disputes the assertion that EVs are inconvenient, arguing that many charging points are now able to provide high speed charging.

Electric forecourt Gridserve in Norwich is one example of this, with its chargers able to provide enough electricity to power 100 miles of range in less than 10 minutes.

Gridserve in Norwichis able to provide enough electricity to power 100 miles of range in less than 10 minutes (Image: Gridserve)

Mr Hewitt said: “Realistically, who drives more than 300 miles a day anyway? You just charge it overnight at home, which is more than enough for 99pc of peoples’ daily use.”

A self-professed EV devotee, the Norwich business owner believes the risk associated with electric vehicles has been exaggerated by the media, and that we’ll see a resurgence of interest over the next few years.

Data from car auction firm Autorola backed this.

The average price EVs sold for on its marketplace rose by 12.5pc from £20,067 to £22,589 between Q3 and Q4 in 2023 - the first used EV price rise the firm has experienced since 2022. 

Paul Hewitt, director of the Norwich Motor Company (Image: Norwich Motor Company)

Mr Hewitt said: “If you owned one before last Christmas the value did go down rapidly, but the market has now stabilised and they’re increasing in price again.

“With all that bad press and sensationalising the motor trade pulled away from them, which plummeted prices even further.

“But they’re so cheap to run and yes it's expensive if something goes wrong, but the fact is, things hardly ever go wrong.

“Everyone wants to kill them, but I believe once you’ve tried an EV you don’t want to go back.”