UK Auto Industry Urges Government Support for Used EV Market

A coalition of over 30 UK automotive industry organizations, coordinated by the British Vehicle Rental and Leasing Association (BVRLA), has urged the Labour government’s Transport Secretary, Heidi Alexander, to take urgent action to support the used battery electric vehicle (BEV) market. They emphasize that the used EV market, nearly four times larger than the new car market, offers the best value-for-money opportunity to accelerate BEV adoption by improving vehicle affordability, equitable access, and the financial viability of new vehicle sales through targeted grants and subsidies. The coalition highlights concerns that falling residual values of used BEVs are raising financing costs, suppressing demand, and eroding confidence, especially among consumers and small and medium-sized enterprises (SMEs). They call for broader interventions including investment in skills and training, public information campaigns, and clear battery health standards to stabilize prices and sustain the transition to zero-emission vehicles. The group also stresses the importance of allocating a substantial portion of the government’s £1.4 billion EV funding to bolster the used BEV market, warning that without such support, the UK’s ambitions for zero-emission transport could be jeopardized. BVRLA Chief Executive Toby Poston underscores the critical link between the new and used EV markets, noting that maintaining healthy demand and values in the second-hand sector is essential for a sustained transition.