The average price of a new EV has been cheaper than the average price of a new petrol car in the UK for the third month running in May, according to Autotrader.
The company said the average price of a new EV – including manufacturer discounting and the UK Government’s Electric Car Grant – stood at £43,049, compared with an average new petrol car price of £43,178.
Autotrader said the average discount on a new EV was 11.7% off RRP.
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According to Autotrader, the discounts combined with rising fuel costs are driving increased EV demand, with the platform reporting EVs accounting for 29% of new car enquiries in April.
Autotrader said the Skoda Elroq (pictured) was currently the UK’s most in-demand EV, accounting for 4.1% of EV enquiries so far in May, ahead of the Renault 5 E-Tech (3.2%) and the Kia EV3 (3.7%). Autotrader said the popularity of these models, priced at around £30,000 or below, demonstrated growing demand for more affordable EVs.
New car market sees overall demand increase
Autotrader said the wider new car market was seeing increased demand in May, with visits to its new car platform up by 18% year-on-year in the month so far. New car listings are up by 8% month-on-month, and 12% year-on-year.
Across all fuel types, the Jaecoo 7 – the UK’s most-registered car in March – was the most enquired about car, at 4.3%, ahead of the Land Rover Defender 110 (3.1%) and the Volkswagen Golf (3%).
Bex Kennett, head of new car at Autotrader, said: “The new car market is carrying strong momentum into the summer, with demand growing and stock levels rising as retailers respond to increased consumer interest.
“Competition between manufacturers remains intense, particularly in the electric market, where more affordable models and attractive offers from brands like Skoda and Kia are drawing in buyers.
“With enquiry levels continuing to act as a leading indicator of sales, retailers that capitalise on this demand now will be best placed to maximise performance in the months ahead.”