For many people, a new electric car is too expensive. But the used car market for purely electric models is small and is only slowly gaining momentum. Experts expect improvement – but only in a few years.
The used car market for electric cars is only slowly gaining momentum. According to the Federal Motor Transport Authority (KBA), only 47,000 used cars changed hands nationwide in the first seven months, out of a stock of just under 1.2 million battery cars. For comparison: almost 49,000 new cars with electric drives were registered in July alone.
According to the KBA, the proportion of ownership transfers of electric vehicles on the German used car market is only 1.25 percent. In the first half of the year, the number of sales of used electric cars fell by more than ten percent compared to the previous year.
Possibly outdated battery technology
The supply is still too low, said car expert Ferdinand Dudenhöffer from the Center Automotive Research (CAR) in Duisburg. The prices of the few battery vehicles that are offered as used vehicles are correspondingly high.
“That will change in the future,” predicts Dudenhöffer. But buying a used vehicle still carries the risk that the technology, especially the battery, will quickly become outdated. Because most of the used cars that are now on the market belong to the first generation of e-mobility. “And the progress in battery technology is only now being incorporated into the fleet little by little.”
Used electric cars cost an average of 43,000 euros
A survey by data provider Deutsche Automobil Treuhand also shows that consumer interest in second-hand electric cars is rather muted. According to this, only 14 percent of used car buyers are currently considering a used pure electric vehicle. 44 percent of all respondents can basically imagine buying an electric car. However, for the majority, the timing of a planned switch is far in the future – i.e. later than five years.
In addition to the quickly outdated technology and the resulting rather limited range, the price also plays a major role. In a survey by the car portal mobile.de, only 13 percent of people said they wanted to spend more than 40,000 euros on a used electric car. However, according to the online exchange, a used electric car is offered for around 43,000 euros on average. For combustion engines, however, it is only 29,000 euros.
Offer too small
According to the Central Association of the German Motor Vehicle Trade (ZDK), the high prices for new battery-powered vehicles prevent used ones from becoming cheaper. “For this to happen, the prices for new vehicles would also have to become significantly cheaper,” said a spokesman. “We need a wide range of electric vehicles in all price categories so that customers have the opportunity to choose a model that is affordable for them.”
The number of electric cars on the used car market is small. Despite the increased numbers, they currently do not even make up three percent. This is mainly because battery-only vehicles have only been sold in relevant quantities for a few years. In addition, owners typically only pass on their cars after a few years.
“There’s not much that comes together.”
As the existing vehicles get older, the range of used vehicles will grow, says Fabian Brandt from the management consultancy Oliver Wyman. However, it will still take a few years until a “healthy and stable used car market” develops. After all, most existing vehicles are still relatively young and will only come onto the used car market in a few years. “There’s not much that comes together.”