Ever tried selling a used electric car? The technology is evolving so quickly that the prices of vehicles even only a few years old are tumbling with alarming speed. A Nissan Leaf that set you back £26,000 new three years ago might fetch less than £7,000 today.
Used electric vehicles pose challenges, above all degrading batteries that can hobble a car’s range and ability if they are not properly cared for. And replacing a battery that has suffered too many rapid charges is expensive. A replacement for GM’s Chevrolet Bolt could cost £12,000, more than 40 per cent of the cost of a new vehicle.
Such considerations probably were not foremost in Michael Gove’s mind when he set out plans to ban petrol and diesel cars by 2040. Yet a succession of governments have pledged to scrap the internal combustion engine.