Big EV 'myth' busted as Aussies rethink second-hand electric cars

Yahoo

10 hours ago

As electric vehicle (EV) adoption grows in Australia, long-held myths around battery life, resale value, and long-term costs are being increasingly challenged by real-world data. But despite progress, some misconceptions — particularly around second-hand EVs — continue to influence buyer behaviour.
One of the most persistent beliefs is that EVs don't hold their value as well as petrol-powered cars. While there's evidence that this is starting to shift, especially with improvements in battery technology, consumer hesitation remains.
Scott Maynard, managing director of EV brand Polestar Australia, acknowledges that concerns around battery health have historically been a major sticking point. He says that's changing, particularly when buyers go through manufacturer-certified channels.
"Purchasing a used EV through a certified manufacturer network now includes a detailed battery 'report card,' which helps build trust and gives buyers the confidence to go ahead with a second-hand electric vehicle," Maynard told Yahoo News Australia.
Maynard has a vested interest in promoting the second-hand market. But many of his points are supported by independent data. Battery health software provider Geotab reports that the average annual degradation rate for EV batteries has dropped from 2.3 per cent in 2019 to 1.8 per cent in 2024 — a relatively modest figure compared to early concerns.
Maynard also points to advances in battery management systems that help protect long-term performance by regulating temperature and usage patterns. He argues that this technology, along with the ability to repair individual battery modules rather than replacing entire packs, is helping shift buyer perceptions.
However, public scepticism — often amplified by social media anecdotes — still plays a role in dampening confidence. And while some consumers are now embracing the used EV market as a more affordable entry point, challenges remain around financing, insurance, and rural infrastructure.
Maynard believes these barriers can be addressed through stronger industry collaboration. "What the EV industry needs to do is engage the insurance sector on battery technology and repairability," he said, suggesting this could eventually result in more favourable premiums for consumers.
When it comes to running costs, he also argues that EVs are proving cheaper to own and maintain than many Australians expect — especially for households with access to home charging and rooftop solar. Still, access to these cost-saving advantages isn't evenly distributed, particularly in regional areas.
Range anxiety continues to be a major concern, and while Australia now has more than 1,800 high-power charging locations, infrastructure reliability and coverage remain key issues. Maynard says more test drives and exposure to EVs are crucial in breaking down remaining hesitations.
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"Education is crucial. Once you've experienced the convenience of home charging and the smooth, quiet performance of an EV, it's hard to go back," he said.
"That's before you consider the environmental and health benefits of making the switch. It's crucial that we continue fighting misinformation around EVs and educating Australians about these benefits."
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