Dealers say the £10K Tesla Model 3 is big step in used EV acceptance

EIGHT out of 10 dealers (83%) say Tesla Model 3s dipping under £10,000 for the first time is a key moment in the used electric car sector, says June’s Startline Used Car Tracker.

The Tracker is compiled monthly for Startline Motor Finance by APD Global Research. This time, 317 consumers and 70 dealers were questioned.

It shows 38% say this price point is an important psychological barrier for those potentially buying their first electric car.

Also, 31% say consumers view the Model 3 as a practical, well-equipped family car that just happens to be electric and 17% say Tesla batteries are reliable and lose little range over time.

Just 10% of the dealers questioned believe consumers with £10,000 to spend are risk averse and prefer petrol or hybrid, 7% that supply of the Model 3 remains low compared to the overall market and 5% that there are too many other barriers, such as access to charging, stopping people buying electric cars.

Paul Burgess, CEO at Startline Motor Finance, said: “The volumes of electric cars entering the used market are increasing ever more rapidly and, as a result, prices are falling while choice is increasing. There are now a number of options available under £10,000 but the Model 3 is probably the most suitable for everyday family needs, has a good reputation for battery reliability, offers useable range and is well-equipped.

“It is, as many dealers in our research have said, a strong used buy that just happens to be electric and at under £10,000, may convince many more people to go electric.”

The Startline Used Car Tracker also asked dealers which other sub-£10,000 used cars they thought likely to tempt buyers to electrify. Responses included the BMW i3 (mentioned by 59%), Peugeot e208 (37%), Hyundai Ioniq (36%), Nissan Leaf (34%), Renault Zoe (17%) and MG4 (14%).

Paul said: “There are many good cars here now reaching price levels that make them much more accessible to a wider range of buyers.”