The Rise of Electric Vehicles in the Irish Second-Hand Market
The Rise of Electric Vehicles in the Irish Second-Hand Market
The move to electric vehicles (EVs) has been ongoing in the automotive industry around the world for some time and has gathered considerable pace in recent years. Ireland is no exception, with a complete replacement of fossil fueled engines now all but inevitable. Electric vehicles promise a cleaner, more sustainable future for transportation, and practically all, major car manufacturers have now invested heavily in developing and marketing a complete range of electric cars.
While the electric vehicle industry is still relatively new, the market base is now sufficiently well developed that a large proportion of the used car market is now made up of both hybrid, and fully electric cars.
Here are some of the key factors contributing to the popularity of second-hand electric vehicles:
Price Attractiveness
One of the most significant factors driving the adoption of used electric vehicles is their affordability compared to brand-new models. EVs tend to depreciate rapidly in their early years, which means that a used electric car can often be purchased for a fraction of the cost of a new one. This affordability opens up the electric vehicle market to a broader range of consumers.
Improved Charging Infrastructure
As the publics adoption of electric vehicles has grown, so too has the charging infrastructure. Public charging stations are becoming more and more widespread and easily accessible, making it easier to own an electric vehicle, even if owners don't have a dedicated charging point at home. This improved infrastructure reduces the range anxiety that has been a primary concern for potential buyers of electric cars.
Advancements in Battery & Vehicle Technology
The Battery technology used in electric cars continues to improve, leading to longer-lasting and more reliable batteries. This improvement in battery life means that even older EVs can still offer decent driving ranges and impressive performance. As a result, consumers are more willing than ever to consider buying used electric vehicles, secure in knowledge that the battery and ancillary components still have many years of serviceable life ahead.
Increased Environmental Consciousness
Car owners are increasingly concerned about their environmental impact. While the manufacture and use of electric cars is not carbon neutral, they produce zero emissions in daily use, making them an attractive option for those looking to reduce their carbon footprint. Buying a used electric car allows environmentally conscious consumers to embrace this technology without the higher cost and added manufacturing impact associated with buying new.
Attractive Government Incentives
The Irish government offers substantial incentives and rebates for purchasing electric vehicles. While these incentives are only available on new vehicles, at least some of the savings translate to lower second hand prices. Furthermore, there are many other incentives available to second had users such as grants for installation of home charging points, lower road tax and reduced VRT charges for imported vehicles. These incentives can greatly reduce the overall cost of owning an EV and make them an even more appealing option for budget-conscious consumers.
Expanded Model Range
With practically all mainstream car brands now offering a comprehensive model range of electric vehicles, including compact cars, SUV’s, family saloons and now even some commercial vehicles, this expanded range is now translating to increased stock in the used car market. Consumers now have more choices when shopping for a used electric vehicle, making it easier to find a model that suits their needs and preferences.
Lower Operating Costs
Even when recent energy price increases are considered, electric vehicles are still remarkable for their lower operating costs compared to traditional petrol and diesel-powered cars. Charging costs are generally cheaper than prices at the pump for fossil fuels and EVs also require less maintenance due to having fewer moving parts. These combined cost savings can make used electric vehicles an attractive choice for budget-conscious car buyers.
Advanced Technology and in-Car Features
Even the most basic used electric vehicles will come equipped with advanced technological features, such as infotainment systems, advanced driver-assistance, navigation systems and smartphone integration. These features can greatly enhance comfort and driving experience and provide added value to buyers of used electric cars.
As with traditional fossil fuel vehicles, an independent car history check is essential when considering a used electric vehicle. A car history check provides the buyer with valuable insight into the vehicle's past and, for electric vehicles, it's especially important to assess the health of the battery, as a replacement can be expensive.
As the popularity of electric vehicles continues to grow, the second-hand car market will inevitably see an even wider offering of used vehicles and increased stock to choose from. However, it's important for buyers to fully consider their unique circumstances when purchasing a used electric vehicle, ensuring that the charging infrastructure in their area is suitable for their needs and they choose a vehicle type that best meets their driving needs.
Author
Justin Kavanagh
Justin Kavanagh is a recognised leader
in automotive intelligence and vehicle
data supply to the entire motor industry.
He has almost 20 years experience in
building systems from the ground up.
As the Managing Director of Vehicle
Management System, he understands the
need and importance of trustworthy and
reliable vehicle history and advice to
both the trade and the public.
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