Leading provider of vehicle valuation data, CAP has called for benchmark testing of battery capacity to better establish used vehicle values for the new breed of electric commercial vehicles.
Valuation Manager for CAP, Ken Brown says establishing independent verifying method for batteries is essential as charge-holding capacity reduces over a battery’s lifespan and can leave used buyers uncertain of the true value of an electric vehicle. This in turn affects residual values and will influence the popularity of electric vehicles within the leasing sector.
“We are receiving an increasing number of requests for residual values from contract hire and leasing companies for battery powered electric vehicles. Clearly these ultra-clean vehicles have an important role to play as emissions increasingly dominate the taxation agenda and cities introduce measures to control CO2 and other emissions with bans and tolls” explains Brown.
The problem with a battery with a reduced capacity is that although it may show as fully charged it will not have the driving range of a new battery. The battery for an electric car or van can be expensive to replace. Without an effect testing method, Brown expects that it will significantly impinge on consumer confidence.
“Establishing a benchmark is essential to creating confidence in this area of the market. Realistically, nobody would expect a five year old battery to have 100 per cent of its original capacity. But if it can be established that the norm is, say, 85 per cent then that could form the basis of CAP’s standard condition criteria for electrically powered vehicles” concludes Brown.
Does the reliability of batteries concern you? Would it stop you from buying an electric vehicle? Leave us a comment and let us know.
