EV tipping points: £24k, 30-min charge and 282-mile range
A price tag of £24,000 for an electric vehicle with a 282-mile range and a recharge time of half an hour are the tipping points at which “mainstream EV adoption” can be achieved, according to research from oil company Castrol.
The firm described 2025 as the potential year of the EV, a year later than the global average, with price being the top barrier to adoption. In the survey of 10,000 people across eight European markets, 68% of UK respondents said EVs are currently beyond their budget, while 62% mistakenly thought that the cars would cost more to maintain.
“The automotive industry has been hit hard by the coronavirus pandemic, but I believe that electric vehicles have a central role to play in powering the sector’s low-carbon recovery,” said Castrol Europe vice president Omer Dormen. “Castrol’s research shows that individual consumers are positive about making the switch to electric, but buyers in the UK expect to do so slightly later than those in other markets, and are keen to pay a bit less.”
Positive August used car performance
The average wholesale price of use cars rose by 15.6% last month compared with July 2020 according to Cox Automotive UK, despite the average age of stock rising by 0.7% to 5.7 years. Mileage has though down by 723 on July 2020 and by 2040 on August 2019 at an average of 61,310.
“Our data and insight indicate that the profitability many retailers have enjoyed since lockdown restrictions lifted has continued through August, with many capitalising on retail and trade margins,” said Cox Automotive UK’s Customer Insight & Strategy Director Philip Northard. “Although there were reports of demand easing in both the retail and wholesale market as the month closed, early indications in September show a return to positivity as supply continues to be challenging.”
Fleet Assist hits 80% EV and hybrid capability
Fleet Assist’s garage network of more than 4500 franchised sites, fast-fit operators and independent garages has passed the 80% marker of operations able to work on hybrid and electric vehicles.
The 3,800 “hybrid and EV ready” garages require a technician that has completed, as a minimum, the IMI Level 2 qualification in Hybrid Electric Vehicle Operation and Maintenance and have suitable premises.
“We have been working on ensuring our network could deal with the marketplace changes since 2017 and as early as 2018 50% had this capability,” said Fleet Assist’s Managing Director Vincent St Claire. “It’s testament to the relationship we have with our network and through the use of our Atlas business intelligence system that the capability of each garage is recorded and available to our customers. This is supported by periodic audits which are completed by our network development team to ensure we direct the servicing work to the most relevant garages.”