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Almost half of New Car Buyers are Considering Electric

Almost half of new car buyers considering electric

In a recent AA poll, almost half of all drivers (47%) say they will consider buying an electric vehicle when they next change their car.

The poll of 17,628 drivers revealed that women were more likely (49%) to say they would consider an electric car than men (46%). Across age groups, respondents aged 65+ were significantly less likely (43%) to consider an electric car when they next change their car than all other age groups (18-24; 60%, 35-44; 56%, 55-64; 48%). Respondents living in London (56%) were most likely to consider purchasing an electric car as their next vehicle, as were AB social groups (54%).

The poll exposed the top reasons for people not considering a change to electric. Regionally, respondents living in Wales were most likely to say that lack of public charging points was a barrier to buying an EV (74%) compared to all other regions. The cost of EVs was second on the negative list and concern about range came third.

Respondents were then asked to select up to three scenarios that would encourage them to buy an electric vehicle. Top results included:

  • If an EV cost about the same as the equivalent petrol or diesel
  • More rapid charging ‘hubs’
  • More charging stations at places like supermarkets, leisure centres and shopping centres

Increased confidence in the used electric vehicle market

According to James Foxall, motoring and consumer correspondent at The Telegraph, used electric car prices will rise as they become mainstream. Foxall points to a report by finance company ING, which looked at predicted electric car used values between 2020 and 2025, and concluded: “As petrol and diesel residual values remain relatively stable, we expect BEV (battery electric vehicle) residual values (RVs) to come out on top.”

According to a recent Which Car? list of the 10 slowest-depreciating cars, two electric models were placed in the top 7.Foxall argues that there is new confidence in the used electric vehicle market. With many factors at play, a primary reason is that both dealers and consumers are becoming more educated on the benefits of zero-emissions motoring.

A spokesperson at Indicata, a business intelligence and data insight firm, agreed that the tide is turning towards EVs. “Lockdown resulted in a change in people’s values. People liked the quietness and the reduction in air pollution. They are now accepting electric cars as a viable alternative to petrol and diesel.”

Added: 23 October 2020

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