Webcast ReviewsJohnson v Firstrand et al: What the auto finance ruling means for all broker-introduced business
Fleet Finance Sponsored by Auto Finance Fleet Finance News Charging stations sticking point for EVs Published: 29th June 2021 Share Enthusiasm for electric vehicles (EVs) is growing strongly, but the current lack of charging points is a key issue for fleets considering making the switch, according to research by Arval. Findings from the latest Arval Mobility Observatory Barometer show almost six in ten (59%) of the fleets which are not considering implementing EVs named a lack of public charging infrastructure as the top barrier to their adoption. Other constraints raised by the same non-EV adopter group included the EV purchase price being higher than that of a petrol or diesel car, which was cited by 43%. The third major concern was no charging being available at the employee’s home, although just 37% saw this as an issue compared with more than half (55%) last year. Shaun Sadlier, Head of Arval Mobility Observatory in the UK, said: “Although public charging is seen by businesses as the biggest problem when it comes to EV adoption, to a great extent the charging issue that they face can be solved by those employers themselves. They can choose to invest in office and home charging for example. However, difficulties surrounding public charging are very much in the hands of others, but the regular updates on significant investment in the charging infrastructure indicate that this will become less of an issue in the future. “This issue is especially difficult for the four out of ten motorists who do not have driveways and rely on third parties such as local authorities and commercial charging providers to fit facilities on the streets near their homes. While this is not happening as quickly as these fleets would like, the continued investment in new rapid-charging infrastructure will make operating an EV much easier for those who can’t charge at home in the future.” Overall, the research results revealed the majority of perceived barriers listed by non-EV adopting fleets have reduced significantly in the last twelve months. While 43%) are now worried about the cost of buying EVs, for example, this compares to two thirds (65%) last year, and only 39% now believe the choice of models available is limited (down from 64% last year). Similarly, only a third of respondents (36%) mention concerns about charging facilities at the company offices, down from over half (55%) last year. Currently just 27% have a question mark over the reliability of EVs, down from 34% last year and only 15% cite employees’ reluctance to drive an EV. “Our view of this is that businesses are becoming more and more accustomed to, and enthusiastic about, EV adoption. The technology, which was previously new to many of them, now holds fewer fears as they can see more and more of these vehicles being successfully used day-to-day on their own fleets, by other businesses, and by private motorists. We fully expect these objections to fall even further or disappear in next year’s Arval Mobility Observatory Barometer,” Sadlier reported. The Arval Mobility Observatory 2021 Barometer research is here: arval.co.uk/amo-insight Pat Sweet Correspondent - Asset Finance Connect Sign up to our newsletter Featured Stories NewsVolkswagen Group hits highest European market share in 3 years NewsAuto Trader predicts growth of new and used car market in 2025 NewsOctober sees modest 1.1% growth in new EU car registrations Auto Finance Fleet Finance