Increased interest in EVs caused by the Middle East conflict may prove temporary unless more barriers to the vehicles’ adoption are removed, according to Autotrader.
The marketplace said that in the three months to the end of May this year, EVs had become the most popular fuel type on its platform for the first time, accounting for 27% of new car enquiries.
It said the surge in demand, attributed to rising fuel prices caused by the conflict, saw 125% year-on-year growth in new EV enquiries in April, compared with 31% for the market as a whole.
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However, Autotrader said that a survey conducted for its latest Road to 2030 Report suggested many drivers still had concerns about EVs that could affect long-term demand.
Buyer EV concerns include price and charging
Autotrader found that of 2,000 used and new car buyers who had not chosen an EV, only one in 10 had initially considered buying one.
It found that 84% of buyers thought electric cars were expensive to buy, despite Autotrader data showing that in March and April the average new EV on the platform was cheaper than the average petrol car for the first time, and whilst in May petrol cars were £13 cheaper on average, this price gap was down from £3,607 a year earlier.
In addition, 69% of those surveyed thought charging was inconvenient, and 65% said there were not enough places to charge near where they lived.
The research also found differences in EV confidence for different demographic groups. It found that 17% of women surveyed said a lack of knowledge about EVs would stop them from buying one, compared with 8% of men.
Autotrader also found that confidence in EV knowledge jumped among households with an income above £80,000, which it said showed more work was needed to boost awareness among lower income households. It highlighted the role of the used market in unlocking low-income household EV demand, and said that although some used EVs were now available for around £10,000, there was still insufficient supply of vehicles at this price point.
Call for shift in focus of EV market support
Autotrader said it wanted the UK Government to divert some of the funding currently used for the Electric Car Grant to support used market demand and reduce home EV charging costs. It also called for a delay to the proposed eVED tax.
Ian Plummer, chief customer officer at Autotrader, said: “There’s a real risk geopolitical forces are causing a temporary sugar rush for the UK’s EV market as buyers respond to soaring petrol prices.
“We shouldn’t rely on international conflict to boost this transition – we’ve seen previous spikes in electric interest driven by petrol price hikes simply don’t last and there’s no guarantee this boost is here to stay. When only 10% of recent non-electric car buyers considered an electric car, we’ve got problems.
“With less than five years to go until the ban on new petrol and diesel cars, the Government should do more to ensure an accessible and equitable transition.”