Guest Opinion: Time to plug in? The impact of electric vehicles on the asset value of the UK car dealerships

It’s a safe bet that consumers will eventually swap their fossil fuel powered vehicles for electric models.

Electrical transport in some form does seem to be the future of the automotive industry.

According to International Energy Data in 2009 there were fewer than 6,000 electric cars on the road across 40 countries.

In 2015 this figure shot to 1.2 million.

The battery currently accounts for a third of the cost of electric vehicles and battery prices fell by 35% in 2015 and by 22% in 2016.

This trend is likely to gather pace and is currently on a trajectory that will result in unsubsidised electric vehicles becoming as affordable as their fossil fuels counterparts within the next five years.