BVRLA Used EV Week: Insights into the Market Landscape

Hello, Champions of Net Zero!

Exciting developments are unfolding in the world of electric vehicles (EVs) as the British Vehicle Rental and Leasing Association (BVRLA) kicks off its much-anticipated ‘Used EV Week’. This initiative, running from 20 to 24 October, aims to promote the benefits of used electric vehicles while addressing the growing disparity between supply and consumer demand. The campaign, which has garnered attention across social media platforms under the hashtag #UsedEVWeek, is set to highlight the indispensable role that the used vehicle market plays in the transition towards zero-emission transportation.

In a statement, a spokesperson for the BVRLA emphasised the significance of the used vehicle market, noting, “The used vehicle market is four times the size of its new counterpart. For the transition to zero-emission vehicles to work, all road users need affordable access to cleaner, greener vehicles that meet their needs.” This assertion underscores the urgent need for policies and initiatives that facilitate access to electric vehicles, particularly for those who may find new models financially out of reach.

The campaign promises to be a comprehensive exploration of the current state of the used electric vehicle market, with industry stakeholders and representatives coming together to discuss how these vehicles are becoming more accessible to a wider range of drivers. This dialogue is expected to include updates on consumer data, insights into various funding options for acquiring used vehicles, and information on initiatives such as battery health certificates, which are designed to build consumer confidence in purchasing pre-owned EVs.

As part of this initiative, the BVRLA has extended an invitation to all members of the automotive industry who share an interest in fostering a robust and sustainable second-hand market for electric vehicles to participate in this essential conversation. The message is clear: collaboration is key to accelerating the transition to a greener transportation landscape.

Moreover, the timing of this awareness week aligns seamlessly with the BVRLA’s ongoing #happyEVafter campaign. This campaign has highlighted a concerning trend in the used EV market, revealing that values have plummeted by over 50% in the past two years. The BVRLA is calling for urgent intervention to stimulate demand within the used EV sector and prevent further devaluation of these vehicles.

To amplify the impact of this week-long campaign, the BVRLA has partnered with organisations such as EVA England, Autotrader, and the National Franchised Dealers Association (NFDA). Together, they aim to establish key requirements necessary for invigorating the used EV market. These recommendations include the implementation of a public information campaign, standardised battery health certificates, grants for used EVs, a reduction in VAT for these vehicles, and a decrease in the Benefit-in-Kind tax for used models. Additionally, they are advocating for the Civil Service to have access to used EV salary sacrifice schemes, further incentivising the uptake of these cleaner alternatives.

In conclusion, the BVRLA’s ‘Used EV Week’ serves as a crucial reminder of the importance of the used vehicle market in the broader context of the EV transition. By fostering awareness, encouraging collaboration, and advocating for essential policy changes, we can work together to ensure that all road users have the opportunity to embrace electric mobility. As we move forward, let us champion the cause of sustainability and make strides towards a cleaner, greener future for all.