Most buyers in the market for a new car are looking to purchase a new electric vehicle (EV), plug-in hybrid electric vehicle (PHEV) or hybrid before the ban comes into force.
The latest Cazoo Consumer Insight Panel research, polling the views of 2,025 car buyers, found the ban is likely to prompt 28% to purchase a new ICE vehicle while they are still on sale, 41.5% said they would not and 31% are undecided.
Over a third of buyers (37%) said the ban will prompt them to buy a new EV, PHEV or hybrid, 35% said it would not and 28% do not currently know.
The research found a slightly higher propensity among males (29%) to purchase new ICE vehicles before they are prohibited, compared to 26% of females. Although both were significantly higher for non-ICE alternatives rising to 39% of males and 34% of females.
Lucy Tugby, chief marketing officer of Cazoo, said: “With the industry-wide consultation on the ZEV mandate due to conclude on 23 October, this is a timely opportunity to understand how the legislation is shaping car buying plans and the impact these decisions will have on dealers.
“The findings suggest that a tipping point has been reached. Most buyers say they are already planning to purchase a new EV, PHEV or hybrid ahead of the ban. However, a sizeable minority intend to buy a new petrol or diesel car while they still can, with the legislation acting as a prompt to do so.”
