Industry urges Government to support used BEV market

MORE than 30 companies representing the UK’s automotive ecosystem have written to the UK Government to emphasise the need for swift action to support the used battery electric vehicle (BEV) market.

Representatives delivered the open letter to the Secretary of State for Transport, Heidi Alexander MP, highlighting how the Government can best direct the £1.4bn committed last month to ‘support continued uptake of electric vehicles, including vans and HGVs’.

Coordinated by the BVRLA, the letter has been signed by 33 industry stakeholders spanning vehicle demand and disposal, maintenance and insurance, charging providers and drivers. They include Leasys, BYD and Novuna Vehicle Solutions.

The letter highlights how the used market offers the best value-for-money opportunity for government to accelerate BEV uptake. By underpinning vehicle affordability, equity of access, and the financial viability of new vehicle sales through targeted grants and subsidies, supporting the used BEV market will help more households and SMEs access a BEV. Signatories have also called for broader interventions that include investment in skills and training, public information campaigns, and clear battery health standards.

Delivering the letter, BVRLA Chief Executive, Toby Poston said: “The used car market is nearly four times the size of the new one. Maintaining healthy demand and values for second-hand electric vehicles is essential if we want to deliver a sustained transition. The link between the new and used markets is critical. Low residual values increase the cost of financing and leasing new vehicles. This impacts all customers, especially consumers and SMEs, suppressing demand and eroding confidence across the BEV ecosystem”.