Used car buyer interest in EVs up by a third since May
Published: 26 September, 2022
Used car buyer interest in EVs has risen by a third since May, according to the latest results from the Startline Used Car Tracker. Each month, consumers are asked about their used car fuel preference. For September, 23% opted for electric, up from 17% in May when the question was originally asked.
57% agreed with the statement that EVs are “ the future” while 38% said “it is right for the environment.” However, only 4% concurred with the statement “electric vehicles are now affordable.”During the period, preference for petrol has from 39% to 33%. Diesel remained steady at 18%, along with hybrids at 27%.
Trust in internal combustion engine technology was cited by 52% of those who opted for petrol and diesel. A further 38% also agreed with the statement “electric vehicles are too expensive.”
at Startline Motor Finance CEO Paul Burgess observed: “Obviously, we expect to see interest in EVs increase over time because it is the long term direction in which the market is heading. However, it is interesting to see how consumer sentiment is shifting on an almost month-by-month basis in the Tracker.You can see a fairly rapid change in perceptions of both the cost of EVs and the technology behind them. How these are translating into actual used EV sales is difficult to say. Supply of these vehicles is even more constrained than the rest of the used car market and whatever EVs dealers can get hold of, they can sell.”
He added: “What our finding perhaps does suggest is that there is growing interest for the future and when used EV supply does start to improve, the demand should be there to support it.”
- Weakest March for new car sales since 1998, but EVs way up
Despite battery electric vehicles making up 16.1% of all new car sales in March, the most recorded in a single month, overall sales were actually down 14.3%, making it the worst March since 1998, prior to the advent of two-plate changes per year, according to the latest figures from the SMMT.
- September new car sales: Weakest since 1998
Continuing supply chain disruption is being blamed for a 34.4% fall in new car sales in September, despite it being one of the two main number plate change months of the year.
- New car market up in April: Ninth month of growth
New car sales were up 11.6% in April, with 132,990 vehicles registered, according to the latest figures from the SMMT.
- New cars sales up in September as EV total hits one million
New car went up again in September, with registrations rising 4.6% to, 225,269 , according to the latest figures from the SMMT. While sales were 9,957 up on last year, the month saw sales still lagging 34.4% below pre-pandemic levels.
The month also saw the second highest ever monthly volume of battery electric vehicle (BEV) registrations in history, up 16.5% to 38,116 units, although plug-in hybrid vehicle (PHEV) sales dropped 11.5% to 12,281, Despite this, overall plug-in vehicles made up around one in five new cars sold in September. In total, 249,575 have now been sold during 2022, a quarter of the one million plug-in EVs on the road in total across the UK.
Hybrid electric vehicle (HEV) sales went up 16.5% to 29,088, while petrol car sales were up 4.3% to 126,873. Meanwhile, diesels went down 14.5% to 18,911.Commenting on the figures, SMMT Chief Executive Mike Hawes said, “September has seen Britain’s millionth electric car reach the road – an important milestone in the shift to zero emission mobility. Battery electric vehicles make up but a small fraction of cars on the road, so we need to ensure every lever is pulled to encourage motorists to make the shift if our green goals are to be met.The overall market remains weak, however, as supply chain issues continue to constrain model availability. Whilst the industry is working hard to address these issues, the long-term recovery of the market also depends on robust consumer confidence and economic stability.”
- EV sales second only to petrol in 2022
1,614,063 new cars were sold in the UK in 2022, down 2.0% on 2021, with supply chain issues, according to the latest figures from the SMMT. At those close of the year, EV sales were second only to petrol.
