The political parties are working hard on their campaigns in the lead up to the General Election on 4th July. The major ones have all now released their manifestos, detailing what they will do if they win. Labour has an interesting point in their manifesto that could have an impact on motorists in the future. We want to look at it today, then if you want advice about the car broker industry, you can come to us.
Proposal
Labour’s pledge is to standardise the information about the condition of batteries in EVs. This would help to encourage more people to make the switch to electric vehicles and will also reassure those that do.
The response
Many stakeholders from the motoring industry have spoken in support of Labour’s plan. Several say it will help to break the major barriers that prevent people from choosing EVs. For example, in 2023 the Green Finance Institute did research to learn more about attitudes towards the vehicles. The crucial finding was that 62% of motorists said they would not buy an EV because of concerns about the battery lifespan.
Worries about the condition of batteries are also the biggest hurdle in the used EV market. A survey from Electrifying.com found that 9 out of 10 drivers didn’t have confidence in buying used EVs. The main concern with two thirds of them was battery life.
The commercial director at AutoTrader, Ian Plummer, had praise for the plan to standardise battery information. The UK policy manager at T&E also said the policy would be very helpful and encourage consumers with “embracing the future of UK road transport”.
What could happen?
It will be interesting to see if Labour wins the election and follows through with this pledge. If they do, it could have a big impact on the used car market in particular. Battery health checks would need to be done to ensure that there is clear information about the condition. Buyers will then be able to see what capacity the battery has before they buy and the potential that they will require a replacement.
Become a car broker
Auto Car Brokers keeps an eye on various topics that can cause big changes in the motoring industry in the UK. The move from Labour could be fantastic if they do win the election. It could bring a wave of interest in EVs and therefore help to boost adoption of the tech. Everyone will need to be aware of it, including dealers, brokers, and consumers.
If you want to be a car broker, whether dealing with EVs, older classics, or other types of vehicle, we can help. You can find out more about broking on our website. Plus, we have some exceptional products that you can rely on. You can even contact us if you need advice.
