Nearly two-thirds of UK motorists have no plans to buy an EV

Nearly two-thirds (63%) of UK motorists have no plans to buy an electric vehicle (EV), according to a new survey by insurers AXA UK.

The survey of 1,501 UK motorists highlights the scale of the challenge facing dealerships as they look to assist more drivers to make the switch to EV where suitable.

Of those with no plans to purchase an EV, more than a third (37%) say concern over battery lifespan is one of the main reasons.

In addition, only 8% of those questioned said they had plans to buy a second-hand EV.

The new research also shows that motorists don’t plan to buy EVs because they believe they are too expensive (61%) and because there is a lack of charging points in their local area (36%).

EV battery health certificates

Alongside the research, AXA UK has published a report, ‘Sparking Change – the case for delivering EV battery health certificates’, which highlights the benefits of standardised battery health information for all makes and models of used EVs to give consumers more confidence in the longevity of the vehicles they are buying.

AXA UK believe battery health certificates could play a significant role in stimulating the UK’s used EV market by providing a measure for vehicle value that doesn’t currently exist.

AXA said certificates could have a positive impact on insurance premiums by making it easier for insurers to accurately assess the value of second-hand EVs in a similar way that mileage is used for vehicles with an engine.

From April 1, new EVs priced over £40,000 will be subject to an annual expensive car tax for five years at a cost of £425, in addition to road tax of £195 per year being introduced for all EVs.

Most EVs fall above the £40,000 price mark, so used EVs present an attractive alternative for customers looking to make the switch to electric. 

However, AXA said concerns over battery health, range issues and car values mean “the second-hand market is faltering”.

Lack of awareness for used EVs

The research also reveals that there is a clear lack of public awareness around the used EV market, with nearly two-thirds (64%) of those questioned saying there isn’t enough public information on how to buy a used EV.

In the UK, new EVs and their batteries must have manufacturer warranties of eight years or 100,000 miles but these are often not passed on to subsequent owners of the vehicle.

There is currently no standardised method in place for the owners of second-hand EVs to track the vehicle’s battery health or performance.

Marco Distefano, managing director at AXA Retail, said: “Battery health certificates have the potential to boost consumer confidence and drive demand to create a thriving second-hand EV market.

“It’s clear that motorists have concerns around both the lifespan and cost of EVs and without addressing these issues there is a risk that EV uptake will remain low. 

“We urge the Government to urgently publish guidelines to support standardised battery health testing.

“Not only will this stimulate the used EV market, but it also has the potential to positively impact insurance premiums by providing a barometer for assessing the value of EVs in a similar way that mileage is used for vehicles with an engine.”