Energy
Thursday, November 2nd, 2023 2:07 pm EDT
Key Points
- Used EVs in Mass Adoption: Oates emphasizes that electric cars are on the path to mass adoption. While early adopters have paved the way, there is a need to reach new audiences, including those who have not yet considered electric vehicles as their next purchase. Used EVs are seen as a vital component in making EV ownership accessible to a broader demographic.
- Demographics and Financial Accessibility: Oates recognizes the importance of targeting demographics that may be interested in EVs but lack the financial means to buy new ones. He believes that used cars are pivotal in ensuring more people can experience the benefits of owning and driving an electric car.
- Growth in Used EV Sales: The article highlights statistics indicating a significant increase in used battery electric vehicle sales, with a record 81.8% rise in the U.K. market during the second quarter. In the United States, the market for used EVs is accelerating, with a notable 32% year-over-year increase in retail used electric vehicle sales in the first quarter. However, Oates acknowledges that the used EV industry is still in its early stages compared to the new EV market and that efforts to address factors like range, infrastructure, and cost need to be repeated for the skeptical audience in the used EV sector.
At the EV Summit 2023 in Oxford, Michael Oates, who leads Tesla’s sales and delivery teams in the U.K., emphasized the significant role that used electric vehicles (EVs) will play in the transition to sustainable transportation. He noted that mass adoption of electric cars is inevitable and that used EVs are pivotal in reaching new audiences, especially those who may not have considered an electric car due to financial constraints.
Oates highlighted the importance of addressing different demographics, particularly individuals interested in EVs but lacking the financial means to purchase a new one. He believes that used EVs are essential to ensure as many people as possible can experience the benefits of owning and driving an electric car.
Used battery electric vehicle sales in the U.K. saw a substantial increase, rising by 81.8% to 30,645 units in the second quarter, with their market share hitting a record 1.7%. In the United States, the market for used EVs was noted to be accelerating rapidly as more options become available, with retail used EV sales increasing by 32% year-over-year.
However, Oates acknowledged that the used EV industry is still in its infancy compared to the new EV market. He pointed out that dispelling myths related to range, infrastructure, and cost, which contributed to the success of new EVs, needs to be repeated in the used EV sector, where the audience is often more skeptical.
Affordability is a key consideration, as new Tesla cars start at just under £40,000 (approximately $48,700). Used EVs will be crucial in facilitating the transition from traditional internal combustion engine (ICE) vehicles to electric ones, regardless of the manufacturer, ensuring accessibility to a broader audience.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/11/02/one-tesla-manager-thinks-used-cars-are-absolutely-pivotal-for-evs.html
