Warranties to help weather-proof businesses that trade in used EVs

9th February 2024

Multiple industry commentators have pointed out in the latest Insight Report from Cox Motors the need for the remarketing industry to “weatherproof their businesses in the year ahead.”  It seems an especially appropriate phrase as so many parts of the world grapple with extreme weather conditions.

Several continuing trends, including the realignment of vehicle values, supply shortages, economic uncertainty, and continuing EV market volatility, are likely to underpin a complex used market in the year ahead, it says.

The crucial factor is surely EV buyer confidence, and this is exactly where warranties help. The combination of a battery test to confirm battery health and then a warranty on the battery address the concerns that lie behind consumer reluctance to buy a used EV even when the prices are so attractive.

There are several different options available. For example, Altelium offers a one year ‘sleepeasy’ warranty with a cash payment, which covers accelerated battery degradation, long before the manufacturer’s battery warranty would apply.

In addition, we also offer an extended battery warranty for up to three years, following expiry of the manufacturer’s warranty which covers the battery against accelerated degradation, in addition to electrical and mechanical failure. Our warranties help people overcome any anxiety about buying a used EV.

Please get in touch if you are a business and would like to know more about our EV battery testing, reporting and warranty solutions.

To read the lnsight Report from Cox Motors please click here: Insight Report

Alternatively to read a summary of it in Fleet World, please follow this link: Fleet World