Research from MOTORS/Cazoo’s latest Consumer Insight Panel of 2,000 car buyers found 55% expect their next car to be either a hybrid or EV, compared with 45% opting for petrol or diesel.
EV intent alone has reached 24%, the highest level recorded by the study.
Lucy Tugby, marketing director at MOTORS, spoke as part of a special video interview as part of Automotive Management’s EV Retailing Week: “EVs and hybrids are now a more popular choice than petrol and diesel for buyers considering that next car purchase.”
She added that while hybrid demand remains strong, EV adoption is rising steadily, with intent up from 21% earlier in the year.
View the full 15 minute interview here
Gap between new and used EV demand
However, the data highlights a continued gap between new and used EV demand.
Tugby said 53% of buyers would choose a new EV, compared with 25% for used, indicating the need for dealers to build confidence through measures such as warranties and battery health checks.
The research also points to a growing trend of buyers moving directly from internal combustion engine (ICE) vehicles into EVs, bypassing hybrids.
Tugby said 62% of EV buyers are switching straight from petrol or diesel, compared with 25% from hybrid.
She said: “Hybrids would have been that natural stepping stone to EV, but this is no longer the case.”
Market data from March and early April shows EVs accounted for 10% of dealer stock, a record level, with hybrid and EV combined making up one in five vehicles.
After six months of price declines, early April data suggests a reversal. Average used EV prices have risen around 5% month on month to £23,313, while stock levels have tightened.
Tugby said the shift reflects stronger demand, partly driven by rising fuel costs, with EVs continuing to become a more affordable option year on year.