Fleet Europe Podcast 2026 - Episode 8: Inside the used BEV market: Navigating imbalance and demand

Navigating the Current State of the Used BEV Market This is the Fleet Europe podcast hosted by Luberto Van Buten, journalist at Fleet Europe. Today's topic inside the used Bev market, Navigating imbalance and demand. Introducing today's guest Alexander Princeton, CSO of Adventa, and Jerry Sudek, business owner at Skoda CPO Program. Enjoy the episode. Speaker 2 Hello and welcome to this Fleet Europe podcast. And in this podcast, we discussed the most relevant trends and developments in the field, fleet and mobility industry. I'm Liberto from Bauta from Nexus Communication, the publisher of fleeteurope.com and globalfleet.com. And today we're going to look at a part of the electrification story that is becoming increasingly critical, but still lacks majority maturity, I must say the used Bev market. So I have two guests with me here today and we are going to discuss this. It's GD Sudek, responsible for the Skoda Plus program at Skoda Auto Pleasure to be here. Welcome. And Alexander Princeton from Aravinta, which operates some of Europe's biggest used car platforms, including Mart Plots, Mobilay and Lebencoin. Alexander, welcome. Speaker 1 Thank you, Louberto. Speaker 2 So very good to have you here with us. And let me start with a very open question to start with you, Jerry, how is the second hand Bev market developing at this moment of course, especially for you as a scholar? Speaker 3 Yeah. Speaker 4 So I think very interesting times last couple. Speaker 3 Of years. It was quite tough. Speaker 4 To be selling used electric cars mainly. Speaker 3 Because we all. Speaker 4 Know the the disbalance in the new car market, new cars pushed into the market with the subsidies from the government and. Speaker 3 Also the regulatory. Speaker 4 Environment. Speaker 3 However, last. Speaker 4 Couple, couple months and also. Speaker 3 During the past year, the sales are growing, which is good. Speaker 4 Still not where we want it to be. Speaker 3 To take care of all the cars, but it's. Speaker 4 Growing. Speaker 3 Which is, which is great, yeah. Speaker 2 Sounds good, Alexander. Speaker 1 Yeah. To answer that question from a platform perspective, I would say there is still some room for improvement here. So if you take a look at the supply of full electric vehicles on on the platforms you just mentioned, for instance, so that's not Netherlands only, but also France, Italy, Spain, Germany and so on. On average you see let's say 5 to 7% of the total supply is full electric. So I think there is still a way to go to to increase that number. Speaker 2 Yeah, yeah. And do you, do you see that there is more interest for battery electric cars? Speaker 1 Yeah, it depends. It depends a bit on the on the countries. I would, I would say so I'm from the Netherlands and I think, you know, the uptake on electric vehicles is increasing for sure. Definitely when it comes to new cars, of course, we all know that because yeah, most companies, they, they implemented green car policies, of course. But if it, if you take a look, let's say at the used cars, then I think there is also, let's say an increase. But still, you know, if you take a look at the absolute numbers, it's still pretty low. I would say recently you saw a, a pretty nice uptake, I think. And that has to do, of course, with the soaring fuel prices due to the war in Iran, of course. So that is in favour of electrical vehicles. The main question now is, OK, is this kind of sustainable? You know, do we see this trend to be continued or is it just a kind of one off? Yeah. Speaker 2 What do you think, Giri? Do you also see, by the way, an increase? Speaker 3 Yeah, yeah, we we see it. Speaker 4 Really depends from market to market, but. Speaker 3 We have also. Speaker 4 Messages and news from from some markets that that the demand is increasing, but I can only confirm. Speaker 3 There is still a long way to. Speaker 4 Go. And yeah, we need to work on that. Speaker 3 Yeah, yeah. Speaker 2 Because I think you have a good line up, but and we know for example in in the Netherlands and also in other countries where the the the new releasing cars were subsidized, there were a lot of incentive for new cars. So there are a lot of cars coming down to the second hand market at this moment, but they cannot all be sold in those markets. The Impact of Cross-Border Sales and Incentives on Used BEVs So I think we're getting more and more cross-border, don't you think? Speaker 1 There is, I think there is a lot of exports. So I do know these numbers for the Netherlands for instance. So in the Netherlands, you know, I think the, the annual number of cars exported is around 300,000. The majority of the cars coming to the market, you know, is from, from leasing companies, of course. So this is about remarketing. And that is also where, where the problem sits of course, because most of these cars, you know, they are exported to, to, to other markets. So for instance, to to Scandinavia, Denmark, for instance, is a very interesting market, you know, to export those cars. But honestly, I think you know, those markets, you know, want preferably to, to keep those markets in their yeah, let's say own market rather than exporting those cars to other markets. Because yeah, if you want to drive, let's say, yeah, sustainable mobility, of course, it's better to keep those cars in your own market. Speaker 2 Yeah, but then you need incentives and, and at least in the Netherlands, we don't have them for used cars and I think in other European countries. Speaker 1 This morning there were, let's say, 2 announcements. So first it was only for the Netherlands. And I think a lot of governments, you know, kind of rethinking what they need to do due to the, yeah, you know, the, the war in Iran, for instance, and the, the increasing fuel prices. So what the Netherlands is going to do, and I think that we'll start by the end of this year, they're going to kind of subsidise the older, let's say, diesel and petrol cars to kind of, you know, convince, encourage, you know, the people to trade in the older, let's say, ICE cars in favour of an EV. The European Commission, and I think there was also an announcement this afternoon is also kind of thinking details are not yet announced about a kind of leasing programme to make electric vehicles also a bit more accessible for consumers, yeah, who don't have, let's say the cash flow to buy to buy such cars. Speaker 2 Yeah. By the way, you say today and this morning that's the 21st of April. We're not going to air this podcast at the 21st of April. But I think when we are air it, we still have unfortunately of course some troubles in Iran and with a few prices. And I think this is a very good, good step to to have make the electric cars affordable for more households. Yeah, because that's now I think also yearly a problem that the prices are still pretty high. Speaker 4 Yeah, that's true. Speaker 3 That's true, essentially. Speaker 4 Not only us, but most of the. Speaker 3 Manufacturers started to. Speaker 4 Bring their first models, maybe in the higher. Speaker 3 Class, yeah. Speaker 4 That creates naturally also the impact on the used car market. Speaker 3 There is. Speaker 4 Right now, very few. Speaker 3 Of the cheap electric cars available as used. Speaker 4 Currently, the times are changing. More and more manufacturers are launching. Speaker 3 Their smaller vehicles, but still they will be very young. Speaker 4 So I think. Speaker 3 At least for a couple of years it will be very hard to switch the car part. Speaker 4 I think for many, many years still. Speaker 2 Yeah. But it's just, that's logical, of course, because if you give incentives mostly to, to, to, or let's let me rephrase. The most cars are sold to leasing companies and people that lease a car and they normally want a slightly bigger car than someone can afford when he has to pay it from out of his own pocket. So of course, it, it doesn't add up and the demand and the supply. Addressing Consumer Concerns with Transparency and SOH Certificates But if you look at at the hurdles that there are for, for buying and selling electric vehicles yearly, what's for you the the biggest hurdle at this moment? Speaker 4 Yeah, I mean, I have to say. Speaker 3 It's. Speaker 4 It's the same today. Speaker 3 As it was 234 years ago, so. Speaker 4 I mean, still the customers maybe don't have right now all the information about. Speaker 3 How to properly charge the? Speaker 4 Vehicle how to maintain the. Speaker 3 Battery the. Speaker 4 Charging network not everywhere. Speaker 3 In the euro. Speaker 4 But there are markets that it's still insufficient. So that's one of one of the other. Speaker 3 Issues. Speaker 4 We mentioned the pricing. Speaker 3 Of course this is this. Speaker 4 Is another one. And of course, the wrench. Wrench. Speaker 3 Anxiety so. Speaker 4 I mean, there's. Speaker 3 Still, these issues, we as a Skoda, we try to go. Speaker 4 Forward and. Speaker 3 To show the customers. Speaker 4 Very transparent, transparently, you know, on the on the online platform how long it. Speaker 3 Takes to charge the week How? Speaker 4 Far you can go on a charge in a different environment, different conditions, different driving style. Speaker 3 So I think. Speaker 4 This is very important for the customers to start understanding what it means. Speaker 3 To drive the electric vehicle. Speaker 4 Then to make. Speaker 3 A proper proper. Speaker 4 Decision I I I mean I. Speaker 3 Believe the other factor is that our sales guys at the dealerships that they are. Speaker 4 Very well trained and they can explain the customer how to work with the car and help them to make the final decision. Speaker 3 Electric. Speaker 4 Car is definitely not a perfect. Speaker 3 Fit for everyone. Speaker 4 So so we need to 1st understand the customer needs and then to offer them the best. Speaker 3 Possible vehicle whether it is ice or bath. Speaker 2 Yeah, so and so you also have, for example, a state of health certificate when you advertise a car or. Speaker 4 Yeah, yeah, right now. Speaker 3 Let's say all, all our service partners, our dealerships are able to give the customers the state of health certificate. Speaker 4 What we've been missing so far? Speaker 3 Is. Speaker 4 The online availability. Speaker 3 Of that of that certificate. So at this at this. Speaker 4 Very moment we are starting to put it on our. Speaker 3 Our platforms, so with every vehicle you are able to see. Speaker 4 The battery condition. Speaker 3 So we are just rolling that out. Speaker 4 And we believe. Speaker 3 That, that, that will be, let's say, a huge, a huge. Speaker 4 Impact on the market and also on the demand for the. Speaker 3 For these cars. Speaker 2 Yeah, yeah. And luckily we have Alexander here who's working for the, the, the, the biggest platforms in, in Europe. When you look at the way that the electric cars are advertised, Alexander is, what about that information? Is it sufficient? Is it does? Do they have state of health certificates? What do you see? Speaker 1 It, it differs a bit per country. So when it comes to the state of health, for instance, Mobila has it already since some time. But if you then take a look at how many certificates you see on the platform, for instance, you know all the cars advertised, it's still only 13%. So that's pretty low. So total number of electrical vehicles on Mobilia, for instance, is I think around six, 7% similar in in in Netherlands and in Belgium, for instance, lower in the Southern European countries. So for instance, Spain and Italy state of health certificate, like I just said, we have it on Mobilia. It's going to be implemented in the Netherlands for Marc Platts and in Belgium for Treda Honse Deu Germaire. In France we have it as well, but not yet in, in Italy, for instance. So it depends also a bit on, on let's say the, the, the, the stage of the market and the adoption of electrical vehicles in general in those in those markets. Yeah. What can you do more as a platform working on, on the filters, on the search filters, for instance. So like my neighbor also said, you know, this is about the capacity, of course, this is about the, the range, for instance, range, by the way. So I took a look at OK, which filters are mostly used for instance, on electrical vehicles and that is range. So maybe it's obvious, but that is, that is clearly the number, the number one. So even greater than capacity for for instance, I think there's still a lot of uncertainty in the market. So we, we, we, we call those people the, the unconfident buyers. And what you would like to do is of course, you know, to support them in, in the buying journey, for instance. And that's how we try to do that. So by implementing more filters, encourage maybe professional sellers to use in state of health their certificate and also to have a kind of dedicated EV page where you can see, OK, what about the total cost of ownership? For instance, you know, when you buy an electrical vehicle, because I think you know, when it comes to residual value, for instance, everyone knows, you know, a Volkswagen Golf, you know, an ICE car, for instance, it's worth, you know, in four years this amount, for instance, on electrical vehicles, it's so difficult because there is so much evolution on those cars and also battery technology that no one exactly knows, you know, how the market will look like in let's say three to four years from now. Stabilizing Residual Values Through Consistent Government Policy Yeah. And and and so that that's, that gives extra uncertainty for buyers, you think? Speaker 1 I think so, yeah. So I think there, there, there there is an appetite, but I think you need to, yeah, you need to, to, to help the consumers a bit, you know, maybe to take that decision, you know, just to try to buy an electrical vehicle. And I think apart from that, yeah, we had a look at the data of course. So I think the prices, you know, we're still falling. I think, you know, if you take 23, for instance, as index hundred, I think we're far below, let's say the 100 when it comes to retail prices. So yeah, I think, you know, a lot of asking prices, you know, decreased over time to make it also a bit more attractive. But honestly, I think, you know, buying an electrical vehicle, even when it's a used electrical vehicle, it's still a bit more expensive than an ICE car. Yeah, yeah. Speaker 2 That does it and not not every OEM have the state of health certificate with the cars. You are really supporting that to give a lot of information. Is it also then turning into AUSP for you? Speaker 3 Well, so far if you look. Speaker 4 At the market offer and also among the OEMOEM. Speaker 3 Used car sales. Speaker 4 Right now I would say. Speaker 3 Yes, there's very few. Very few. Speaker 4 OEM. Speaker 3 Platforms that are. Speaker 4 Offering that, but honestly, I believe this will, this will change very, very soon. I mean. Speaker 3 I believe that there is. Speaker 4 Like the understanding from from everyone that this is important, this is maybe the one of the most important informations. Speaker 3 It just. Speaker 4 Takes some time. Speaker 2 Yeah, Yeah. By the way, do you also think that that Alexander just mentioned that, that also the European government is trying to push more towards electrification and in the Netherlands they are now trying to push the second hand sales. Do you think that's essential GD for having a good uptake of electric vehicles in the market? Speaker 4 You mean some incentivization? Speaker 2 Some incentivization, yeah. Speaker 3 That's a that's a tough. Speaker 4 Question I mean. Speaker 3 First of all, the. Speaker 4 Push from governments incentives and regulations. They got us into the situation. Speaker 3 Where we have. Speaker 4 The market this balance on the on the new to used car market in the 1st. Speaker 3 Place so that it's it's. Speaker 4 Not very. Speaker 3 Easy to to do. Speaker 4 It right and do do it in a way that it doesn't break more things. Speaker 3 That it helps. Speaker 4 And then whenever there is a new government. Speaker 3 After elections, wherever. Speaker 4 It doesn't matter. The incentives can change and what you do with the investment. Yeah, so 111 country coming. Speaker 3 With a subsidies you set up the operations to. Speaker 4 That because you will be selling a lot. Speaker 3 Of electric cars the other day. Speaker 4 Investment is gone and also your everything you put into the business is gone as well. So I would be hesitant to. Speaker 3 Say that. Speaker 4 We need more and more subsidies to help the market. I think in the end, the market will find its way. Speaker 2 Yeah. So it, it has to be a healthy market on its own without the incentives. On the other hand, of course that we have so many electric cars now sold as new cars is because those incentives, right. So I would say, yeah, I, I agree with you to a certain extent because, but then you need to have a healthy market and you don't want to steer the supply or the demand, sorry, from the beginning. So but now you're steering the the demand for new cars, but you don't do anything for the used cars. So that's where this balance starts, I think. How do you see that? Speaker 1 Yeah, I agree. But I think, you know, the, the main reason why I think you, you, you see, let's say a pretty nice uptake, you know, on new cars, especially, I think, you know, in countries like Netherlands and the Scandinavian countries that mainly, or you could also say it only has to do with the fact, you know, that all companies, you know, needs to kind of implement a green car policy, of course. So I think, you know, as a driver, you know, you, you can choose about in, in a full electrical vehicle and perhaps also on hybrid, but that's it, you know. So I think, you know, diesel is banned of course, and petrol is also not an option anymore. So that is by the way, not the case in the Southern European countries. Because if you take a look at Italy, for instance, I think you know, that is still about petrol and diesel, like I said, the Southern European countries for instance. But on used cars, you know, that is indeed, you know, you're dealing then with, with consumers mainly and they need to to, let's say to find that out of pocket, for instance. And then you need certain incentives, I think, you know, yeah, to bridge that gap, you know? Yeah. And that, and that is what you, what you, what you see now. I think you know the Netherlands, I think you know, they're the, the, the, it's, it's less than 1,000,000. I think, you know, electrical vehicles in the Netherlands, you know, out of a car park of 9 or 10 million cars. So I think there is still then a way to go, right? Speaker 2 Yeah, yeah. And you also mentioned Alexander, the, the, the, the fact that it's, it's very difficult at this moment to, to estimate the residual value, the worth of the car after three to four years. Yeah, really for a, for a OEM, that's of course also very important. How do you see that residual value developing for electric vehicles? Speaker 3 Yeah, so. Speaker 4 I wish I knew. Speaker 3 But yeah, we've seen the big drop last last 2-3 years. Speaker 4 Every month. Speaker 3 Every quarter the RV's are. Speaker 4 Going down exactly for the reason we just, we just. Speaker 3 Talked about there, we are pushing and pushing more cars. Speaker 4 To the market where there are no. Speaker 3 Buyers so unless we sort out. Speaker 4 This this balance the. Speaker 3 Residue values will. Speaker 4 Be in general all my honest belief, and this is rather me speaking. Speaker 3 Really. For myself. Speaker 4 I think in a long term we can when. Speaker 3 We are able to solve this. Speaker 4 We can have even. Speaker 3 Bigger or higher residual values for electric cars? Speaker 4 Because you don't have to deal with the maintenance the the. Speaker 3 Cars actually drive. Speaker 4 Very nice. Speaker 3 They are they are super good cars, but. Speaker 4 As I said, until you solve this balance on the market, you're never going to get to the point. Speaker 3 Where you have stable residual values, at least stable. Speaker 2 Yeah. So we, it's still a marketing transition. It's, it's closing time for this podcast. The Long-Term Outlook for the Used Battery Electric Vehicle Market So I want to give you the opportunity to give a final statement when we look 3 to maybe four years ahead. What does the electric vehicle market look like Alexander? Speaker 1 Is the question related to used cars or? Speaker 2 Is it also for used cars? For used. Speaker 1 Cars, Yeah, Yeah, I think you, you definitely will see an significant growth. I, I expect in order, let's say to to accomplish that, I think we need a government with a consistent policy on electrification. And that is what missing nowadays. I would say, of course, I don't know all those policies for all those markets, but I think, you know, there is too much of A differentiation. So it would also help, you know, if you have a kind of, you know, consistent policy also across Europe. Yeah, also, yeah, in all in order to kind of protect also the European market. I think that's also pretty, pretty important. And it's just, you know, to to convince the consumers, of course, because if they don't know what will happen, you know, next year or the year after, for instance, on Rotex, Yeah, it's just an example then, you know, these people are still kind of unconfident, you know, to make the switch to buy an electrical vehicle. So we definitely need the government and I think we as kind of market parties, you know, leasing companies, platforms, OEMs, dealers, for instance. Yeah. We also need to take our role to advise those consumers, for instance, on, yeah, what it is, you know, to drive or buy such a car. Speaker 2 All right. Thank you. So more information for the consumers, for the buyers and a more consistent policy. Jerry, what's your take? Speaker 4 I think we have last. Speaker 3 Couple of years where you will be able. Speaker 4 To buy nice. Speaker 3 Cheap electric car. Speaker 4 The situation will eventually normalize and yeah, I think maybe more longer term that. Speaker 3 That you said 3-4 years. Speaker 4 Even longer I think. Speaker 3 The electric cars. Speaker 4 Will be more and more naturally on the market and they are definitely staying with us. Speaker 3 Let's see to which extent. Speaker 4 But they are definitely staying here and also for the. Speaker 3 Used car business. Speaker 4 They will be more and more. Speaker 3 Accepted by the. Speaker 4 By the customers. Speaker 2 All right, thank you both very much for joining me in this Fleet Europe podcast, and thank you for listening and watching this podcast. If you want to know all the news and developments in the remarketing sector, check out fleeteurope.com and of course, our next and latest podcast. Thank you very much.