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Rising prices for new cars are pushing more consumers toward the second-hand market. For used car buyers, electric vehicles (EVs) are emerging as the most cost-effective alternative to petrol cars, yet supply remains too limited. Electrifying corporate fleets, which represent roughly 60% of new car sales and are typically replaced every four years, could quickly increase the supply of second-hand EVs, making them more accessible to everyday drivers.
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Car electrification is taking off in Europe, with consumer interest rising as electric vehicles (EVs) become more accessible. But the supply of small, affordable EVs still lags behind demand, especially on the second-hand market, where most cars are sold. Weakening targets and promoting “alternative” technologies thus confuse consumers and deter investments. It slows the flow of EVs into markets, pushing back clean and affordable mobility for all.
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Buying a car is a major decision for consumers. Beyond the initial investment, they expect reliable information about the fuel or electricity consumption, the range, the battery state of health, the overall condition or the environmental performance of a car. This is particularly true on the second-hand market, where most consumers buy their vehicle and look for accurate, credible and comparable data. A well-designed car label can therefore help consumers navigate the market and choose a car that fits their needs.
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Across Europe, consumers want to save and invest their money sustainably, taking climate action while saving for the future in line with their values. However, the current rules for sustainable investment are very weak, allowing so-called ‘green’ products to invest in harmful activities like coal mining or oil drilling. Consumers end up being misled about their investment, which may be doing more harm than good when it comes to tackling climate change.
BEUC welcomes the significant improvements introduced by the European Commission’s proposal to review the SFDR. The changes go a long way to matching the expectations that consumers have for sustainable investments (see BEUC’s survey on greenwashing here). However, more work is needed to protect consumers.
BEUC welcomes the significant improvements introduced by the European Commission’s proposal to review the SFDR. The changes go a long way to matching the expectations that consumers have for sustainable investments (see BEUC’s survey on greenwashing here). However, more work is needed to protect consumers.