Many consumers’ traditional barriers to purchasing an EV, of higher costs and concern about charging, are falling away, Autotrader’s head of strategy and insights Marc Palmer told Automotive Management during a special Supplier Insight video interview for EV Retailing Week.
This is down to a combination of constantly improving public infrastructure, cheaper EVs in the market, and relative normality of EVs rising as some two million are on the roads.
The result, Autotrader’s research has shown, is that 60% of motorists now would consider an EV when they change their car.
Watch the full 15 minute interview here.
“From a demand perspective, it’s growing. It’s keeping pace with supply, and we would expect that to carry on,” Palmer said.
Once a prospective buyer makes contact, it’s the dealer’s specialist advice which will get them over the line, he said.
More and more dealers, franchised and independent, are aware of the profit opportunities available from stocking EVs, and are successfully communicating the running cost benefits to consumers.
Palmer added: “We’re seeing more inquiries on the Autotrader platform, and normally we then see a couple of months later registrations come into the market. Another thing is you’ve affordable models coming in, and the momentum from those launched in the back half of last year.
“And the third reason is some of the manufacturers are deploying discounts tactically to really go hard at different points of the year. That will continue. There will be more competition.”