As a UK consumer, if you’ve wanted an electric car over the last few years, you’d probably have to look to a specialist trader. However, the rise of the electric car is well under way and major motor brands like Volkswagen, Nissan, Renault and Peugeot are all releasing their new mid-market electronic hatchbacks over the next few months. Many motor traders are starting to stock electrical cars, but is it time we all made the switch?
It’s Still a Niche Market
For new car dealers, electric cars are definitely still a niche market. There are many customers who are interested in going electric, but the very high cost price of electric cars seems to still act as a barrier.
There is currently a government subsidy available for those purchases electric cars and prices are starting to drop, but it’s still going to be about three or four years at approximately 10,000 miles a year before new electrical cars start to pay themselves off. It’s still a lot of cash for your everyday buyer, and there’s barely any market for second-hand electrical cars.
Geography Matters for Electrics
While most car dealers are quite happy on the outskirts or industrial estates and can do very well there, it’s a bit of a different game for electric car dealers. The short ranges of electric cars mean, at the minute, it’s very difficult to justify buying one if you’re travelling a considerable mileage every day.
As such, the electric car is definitely for city goers and dealers that are based in cities are much more likely to make a profitable switch from petrol to electric.
Buying for the Future
If you are going to be selling electrical cars, it’s almost certain you’re going to need a number of charge points. At the moment, there are lots of offers available from gas and electrical companies, as well as car manufacturers, for installers wanting to set up trade plug points.
At the moment, it looks very likely that electric cars are going to be the future, so investing now in electric plug points could be a long lasting investment. The prices of electric motors are only going to drop, so it might be worth funding it while it’s cheap.
Briefing Your Staff
One final consideration if you are thinking of going electric is that your staff need to be trained in the pros, cons and details of electric vehicles. Firstly, the costs of electric cars don’t make sense unless you have a very good idea of the running costs and are quite quick at making the calculations in your head!
Likewise, the details and intricacies of maintenance, running, charging and selling on are all different with electrical motors. You need to be sure your staff know the right answers when asked!
If you are thinking of selling electrical cars you might also need to think about your own motor trade insurance. There are plenty of insurers out there who are covering electric car dealers, but as it’s a fairly new market you shouldn’t presume that it’ll be covered under your existing policy. Check out GoMotorTrade who will be able to provide you with quotes to compare motor trade insurance.