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Comprehensive warranties 'a cornerstone' of selling used AFVs

Rich Green Warranty Group

The Warranty Group claims that comprehensive warranties will be an essential component in customer acceptence of used hybrids and electric vehicles.

The warranty provider said that the new technologies, while attractive to many potential buyers, can also create a sense of apprehension and believes its products could be central to the success of used AFV sales.

The Warranty Group’s chief executive, Rich Green (pictured), said: “In the motor industry, we have become very quickly accepting of the new drivetrains and are familiar with their advantages.

“Most used car buyers are not in the same position. It is not that they have never owned or driven an EV - they might not even know anyone who has owned or driven an EV. This unfamiliarity creates some nervousness.

“Until now, almost all EVs and hybrids have been sold to a relatively small number of buyers who were familiar with the technology and enthusiastic about it."

Green said that there were now a suffient number of AFVs in the marketplace to sustain strong used sales volumes  – with European new market share forecast to rise to 1.5% this year - and saai dthat the time had come to take seriously the prospect of selling them to a "more mainstream buying audience”.

He added: “Used car dealers needed to construct propositions around these vehicles that created a strong sense of reassurance.

“There are various ways of doing this. For example, you can show customers research into the longevity and reliability of these vehicles, especially hybrids, which have a low warranty claims record across decades.

“However, a comprehensive warranty is undeniably the cornerstone of selling used EVs and hybrids. It gives a customer concrete reassurance that the vehicle is unlikely to hit them with a large, unexpected bill.”

 



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