New research suggests that clearer information about electric vehicle (EV) batteries could unlock major growth in the used EV market.
A survey conducted by Stack Data Strategy for insurance giant AXA UK polled 1,501 UK drivers. The findings revealed that nearly two-thirds of respondents are not interested in buying an EV. Worryingly, one-third cited battery lifespan as a key reason for their reluctance.
Cost also remains a significant barrier. About 61% of survey participants said they find EVs too expensive, while 36% cited a lack of nearby charging points. These concerns highlight critical hurdles for wider EV adoption.
However, AXA UK’s accompanying report offered a clear solution: standardized battery health information for all used EVs. The company argues that better transparency could give buyers greater confidence in the longevity and reliability of secondhand electric vehicles.
“Several battery health testing services exist,” the report noted, “but consumer confusion persists, largely due to misconceptions about battery health and charging capacity.”
The stakes are high. EVs produce no tailpipe emissions, making them crucial in the fight against climate change. As battery technology improves, drivers can expect better range and lower long-term costs, two significant incentives for making the switch.
In 2024, global EV sales soared by 25% year-on-year, totaling over 17 million vehicles, according to Rho Motion data cited by Reuters. Meanwhile, U.S. used EV sales surged by 62.6% during the same period, according to Cox Automotive.
Still, battery concerns could hold back even greater growth. Companies like Recurrent are stepping up by offering free battery health monitoring. Recurrent claims that this service not only reassures buyers but can also help sellers fetch an extra $1,400 on average for their vehicles.
Recurrent’s platform also connects owners directly to dealerships, making the selling process smoother and more profitable.
AXA Retail’s Managing Director, Marco Distefano, emphasized the opportunity: “Clearing up misconceptions about EV batteries could drive adoption even faster.”
For buyers and sellers alike, better battery information could mean bigger savings, smoother transactions, and a faster shift to cleaner transportation.
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