21 Jun 2024
The voice of the independent garage sector

Study: EV battery degradation “hugely” overestimated

56% of of consumers “hugely overestimate” the likely degradation of used electric car batteries over a five year period, believing a 30% range drop is likely when it is suggested that 20% or less is more likely, according to April’s Startline Used Car Tracker.

EV batteries degrade at an average of 2.3% per year, according to a study of 6,300 EVs by Geotab.

Commenting on the finding from the latest instalment of the monthly poll, Startline Motor Finance CEO Paul Burgess said: “Anecdotal feedback shows there is a lot of misinformation among the general public about used car EV batteries and how quickly they degrade – and our findings clearly back that up.It’s an important subject for the future of the used car market. If someone is considering buying an EV for the first time, they are likely to be put off if they hugely overestimate the speed at which electric cars lose range.

“The fact is that there is now quite a lot of real world information about battery life available and, as long as the previous owner has been sensible about the way in which the car has been charged, the drop-off in range is likely to be relatively low over time.”

Paul added: “This does arguably show that a sizeable minority of people are in the ballpark of getting the figure right, which is promising, but the used car sector clearly still much to do to educate people about how EV batteries perform over time.”

The Startline Used Car Tracker is compiled monthly for Startline Motor Finance by APD Global Research. This month, 300 consumers and 60 dealers were questioned.