Published in: 
Fleet World
Date: 
09 May 2024

New technology can mitigate a volatile EV market

fleet world ev market

Fleets can help mitigate the worst of the volatile EV used market by using the latest technology to speed up the remarketing process, according to Motom.

On average, EVs sell in 17 hours and one minute on the Motom digital marketplace

Cap HPI data shows increased used volume and other issues have impacted demand over the last 18 months, with significant decreases in used values for several models – some have fallen in value by more than 40% and a handful by more than 50%.

But Motom says its digital marketplace has enabled fleet vendors to sell vehicles in as little as 19 seconds by using its technology to target active buyers.

Julian Humphreys, co-founder and CEO of Motom, said: “The used EV market has seen unprecedented volatility over the last year. It’s essential that EVs are targeted to engaged and active buyers to achieve the best prices and a quick sale.

“Under a traditional process, transporting, refurbishing and auctioning an EV can take weeks, with vehicles potentially facing two monthly guide drops. The ability to remarket a vehicle on the same day as defleet will help to insulate the fleet company against a volatile market.”

On average, EVs sell in 17 hours and one minute on the Motom digital marketplace. The ability to image and remarket a vehicle from any location also means fewer vehicle movements and reduces the carbon footprint of the entire process.

Detailed data insight will help remarketing managers stay aligned with current trends and pricing to ensure that vehicles are priced appropriately for the market. Motom argues that it is essential to understand pricing, how quickly vehicles are selling, and the volumes of similar vehicles.

Motom has also developed a benchmarking tool that allows fleets to assess their vehicles against other vendors and produce reports for internal stakeholders. It provides buyers and sellers access to a digital wholesale marketplace. Since its late 2022 inception, it has expanded rapidly by offering remarketing managers and wholesale buyers alike an effective and data-rich platform.

Humphreys concluded: “Real-time pricing is essential in today’s market. The EV market constantly evolves as new technologies are introduced and the range of models available rapidly expands. It is very easy to do what we’ve always done, but we believe this market calls for a fresh approach.”

Start Trading Today

Get access to the MOTOM marketplace and start buying or selling used vehicles. 

Simply download the app using the link below. You will register for an account and can get started right away.
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