Used EVs Sell Faster with Battery Health Certification

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In a significant stride towards enhancing the transparency of the electric vehicle (EV) market, new data from Generational reveals the profound impact that battery health certification is having on the used EV landscape. As the BVRLA’s Used EV Week commences, these findings provide valuable insights that could reshape the future of pre-owned electric vehicles.

According to the analysis conducted by Generational, used EVs that come with a battery health certificate are selling remarkably faster—by an average of 7.3 days—compared to those without such certification. Specifically, certified vehicles take around 43.1 days to sell, whereas uncertified counterparts linger on the market for approximately 50.4 days. This trend underscores a growing consumer demand for reliable and transparent information regarding the condition of EV batteries, a critical component of any electric vehicle.

The data highlights the increasing importance of battery health transparency, addressing one of the primary concerns for prospective EV buyers: the uncertainty surrounding the durability and performance of the vehicle’s most essential feature—the battery. With the used EV market maturing, access to clear and comprehensible data about battery health is becoming as pivotal as mileage has traditionally been for internal combustion engine (ICE) vehicles.

Oliver Phillpott, the CEO of Generational, stated, “This latest data shows just how powerful clear battery health information is in driving buyer confidence and speeding up sales. In the electric era, customers want to know far more than just age and mileage—they want to understand how the battery is performing, what range they can expect in the real world, and how much warranty remains. Our mission is to deliver that clarity.” This clarity not only empowers consumers but also fosters healthier growth within the pre-owned EV market.

Generational’s analysis coincides with recent findings from BCA, which indicate that their EV Battery Grading service has significantly bolstered confidence among used EV buyers. Since its launch a year ago, the service has led to improved performance metrics, including higher sales prices, reduced selling times, and increased conversion rates for EV transactions.

In a parallel development, Motability Operations, the entity managing the Motability Scheme, recently introduced a new promise to guarantee battery health of 90% or above. This initiative has enhanced the confidence of UK dealers in acquiring used electric vehicles, further stimulating the market.

Phillpott further emphasised, “With transparent, trusted battery health data in hand, buyers can make quicker, more confident decisions, and dealers can sell vehicles faster and more profitably. It’s a win-win—and a key part of building a healthy, sustainable market for used EVs.”

To aid dealers in navigating this evolving landscape, Generational has also unveiled an innovative ‘Impact Calculator’. This tool enables dealers to analyse critical metrics such as the number of EVs in stock, gross margin per unit, average days to sell, daily stock ownership costs, and the implications of holding subpar vehicles. By inputting these factors, dealers can assess the potential additional gross margin and savings that could be attained through the implementation of battery health testing.

Generational’s commitment to promoting battery health transparency is further underscored by their timely release of this data, coinciding with the BVRLA’s Used EV Week, which runs from 20-24 October 2023. This event aims to highlight the indispensable role that the used vehicle market plays in the broader transition to electric mobility.

As we move forward in the quest for a sustainable future, the emphasis on battery health transparency is not merely a market trend; it is a vital component in fostering consumer trust and facilitating the widespread adoption of electric vehicles. By prioritising clear communication and reliable data, we can ensure that both buyers and sellers are empowered in the rapidly evolving EV landscape.

In conclusion, the findings from Generational spotlight the critical need for transparency in battery health as a means of enhancing buyer confidence and accelerating sales in the used EV market. As the electric vehicle sector continues to evolve, the emphasis on providing accurate, trustworthy information will be key to ensuring a successful transition to a sustainable future. By embracing this change, both consumers and dealers can contribute to a thriving market that not only meets the needs of today but also paves the way for a greener tomorrow.

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