Electric vehicle sector review confirmed

Date: 18/2/2010

A review of the electric vehicle sector is due to be carried out by motor industry body CAP.

The company believes there are a number of questions which are currently unanswered regarding issues such as resale values of electric cars.

Concerns over battery replacement costs could threaten the commercial value of electric vehicles after their warranties expire, the organisation stated.

Indeed, if battery replacement costs are high, the organisation said, such vehicles may not have any residual value, CAP communications manager Mike Hind said.

"There is still very little confirmed information from manufacturers around crucial questions such as battery finance options, battery life, anticipated replacement costs, charging systems and overall running costs," said Mr Hind.

He added that the organisation is speaking to all manufacturers involved so that it can address these issues and develop a position on the residual values of such vehicles.

Earlier this month CAP confirmed it is extending its presence at vehicle auctions to further demonstrate the company's work in relation to the value of used cars.