For anyone in the market for a new vehicle, factors such as mileage and drivability can play a large role in deciding what you end up driving. But according to new research, an electric vehicle's battery can also be a major concern.
As Electric & Hybrid shared, insurance company AXA UK designed a survey that was conducted by Stack Data Strategy. The data reflects 1,501 members of the public who participated in the survey. The participants were asked a wide range of questions regarding their interest in purchasing an electric vehicle.
In its research, AXA UK revealed that close to two-thirds of UK drivers have no interest in buying an EV. But perhaps more importantly, a third of those drivers described a concern over an EV's battery lifespan as one of the main reasons for their decision.
Additionally, 61% of the participants answered that they perceived EVs to be too expensive. On top of that, 36% of drivers declined to consider an EV because of the lack of charging points in their community.
To supplement the findings of the survey, AXA UK also released a report noting the importance of offering "standardised battery health information for all makes and models of used EVs to give consumers more confidence in the longevity of the vehicles they are buying."
"Whilst several battery health testing services are available, there is a clear misconception of battery health and charge, which in turn is leading to consumer confusion," the report read.
EVs do not produce tailpipe pollution, which can help cut down on the production of planet-warming gases that exacerbate rising global temperatures. As EV battery longevity continues to improve, drivers can worry less about charging and more about saving money in the long run.
In 2024, EV sales saw an increase of 25% compared to sales in 2023, according to Rho Motion data shared by Reuters. Around the globe, over 17 million EVs were sold.
Meanwhile, Cox Automotive detailed that there was a 62.6% increase in used EV sales in the United States in 2024 compared to the previous year. However, concerns over the vehicle's batteries may be holding back further sales.
That's where Recurrent comes in. The company can monitor an EV's battery health for free, giving prospective buyers peace of mind. What's more, this can help EV sellers make $1,400 more on average.
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Cost 💰 Recurrent also has a growing network that can connect owners to dealers, making a sale a lot easier and more lucrative.
According to Marco Distefano, managing director at AXA Retail, by clearing up the misconceptions about EV batteries, sales numbers could climb even higher.
"Battery health certificates have the potential to boost consumer confidence and drive demand to create a thriving second-hand EV market," Distefano said.
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