Advertisement feature from Warrantywise
The electric vehicle (EV) market is shifting fast. EVs now hold a record 19.6%* share of total new car sales. But despite the headlines, private buyers are still slow to commit. Only one in ten private buyers chose electric in 2024.
Used EVs offer a more affordable entry point, and many buyers are drawn in by lower upfront costs and sustainability. Still, concerns around reliability and repair costs remain a major hurdle. Unlike petrol or diesel cars, EVs rely on complex, high-cost components like the drive battery, traction motor, and inverter—any of which can result in expensive repairs if something goes wrong.
That risk is enough to make many buyers think twice, especially when there’s no warranty in place. It’s not just a cost issue—it’s a confidence issue.
Recent research from Cox Automotive shows that 46% of drivers say longer warranties would help them feel more secure about EV ownership.* It’s a clear message: if dealerships want to move more used EVs, they need to offer more than just stock. They need to offer support.
Extended EV warranties are a direct way to tackle buyer hesitation. By covering the parts that worry buyers most, a warranty offers peace of mind and reduces the perceived risk of going electric. It’s not about pushing a sale—it’s about making EV ownership more accessible and practical for the average driver.
Warrantywise now offers two EV-specific warranty plans: a standard EV plan and an EV Plus plan. Both are designed to protect used EV buyers from costly repairs and help them buy with confidence. For dealerships, it’s a way to offer real value and build trust in a market where trust matters.
As EV adoption grows, buyers will continue to ask hard questions. What happens if the battery fails? How much will it cost to fix the motor? Who covers the bill? Warranties answer those questions directly—and dealerships that offer them are better positioned to convert interest into action.
Used EVs are gaining ground. But to maintain momentum, the industry needs to lower the barriers. Affordability is part of that. So is confidence. An EV warranty can help with both.
*The survey data cited in this article was compiled from research conducted by OnePoll in partnership with Warrantywise in 2024. The survey was based on responses from a representative sample of 2,000 UK car owners.
https://coxautomotive.h5mag.com/insight_quarterly_i4/study