The BVRLA has read today (28 February)'s report from Transport & Environment (T&E) and has issued the following statement.
Commenting on the report, Toby Poston, BVRLA Director of Corporate Affairs, said:
“Vehicle leasing companies have led the charge in bringing battery electric vehicles (BEVs) to market. The accusations levelled by T&E show little understanding of how this market operates.
“Like a toddler taking its first steps, the BEV market still needs support in the form of tax incentives, grants and marketing campaigns that give fleets and drivers the encouragement they need to make the leap.
“This support disappears when it comes to selling the same vehicle on the second-hand market. The lease companies that have invested billions in untried, untested BEV technology are navigating this ocean without a map, compass or weather gauge.
“Last Summer, leasing companies were able to sell a limited number of battery electric vehicles into a buoyant market. Fast forward six months and they are presenting a surging inventory of electric cars in very different conditions. The current market has seen five consecutive months of falling prices and a growing imbalance between vehicle stock and prospective buyers.
“Despite these market conditions, BVRLA members continue to buy new electric vehicles in record volumes. They are absorbing the financial risks of a turbulent used market on behalf of their customers.
“The leasing sector is already doing its bit and cannot be expected to take unsustainable risks in a bid to underwrite cheaper electric cars.
“T&E’s research would be better focussed on making the case for more Government support on public charging infrastructure and other measures that will benefit the used BEV market.”
BVRLA members are encouraged to contact [email protected] with any queries.
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