Over half of car buyers expect their next car to be an EV or hybrid, according to Motors’ latest Consumer Insight Panel which polled the views of 2,000 car buying decision makers.
Nearly one in four (23%) expect to purchase an EV as their next car. EV ownership is currently just 7%. Hybrids are an even more popular future option with 30% of respondents expecting to choose one next time around, up from 12% who currently own one.
Lucy Tugby, Marketing Director of MOTORS, said: “Our Consumer Insight Panel research identifies an increased momentum among car buyers considering new and used EVs and hybrids when choosing their next vehicle.
“The expanding choice of new EV models, along with the introduction of new entrant brands, has built confidence among buyers and that is having a direct impact on their purchasing plans.
“The research highlights the growing importance of hybrids which are now only just behind petrol among buyers considering their next fuel type. It’s easy to become fixated with EVs and overlook the strong appeal of hybrids. For many car buyers, hybrids represent a lower risk alternative to EVs, as witnessed by their growing volumes in the new car market.”
Petrol remains the most popular current and future fuel choice, but ownership is set to fall in the next buying cycle from 62% to 36%, with diesel dropping from 19% to 10%. Collectively ICE will represent a total of 46% of next car choices by fuel type, down from 81% currently.
The appeal of EVs is strongest among those buying new (56%), with hybrids favoured by those more likely to buy used (33%) or nearly new (29%).
Tugby added: “With greater numbers of EVs and hybrids entering the used car market and consumer interest growing, dealers will need to be open to adding these vehicles to their stock mix. Furthermore, dealers can grow EV and hybrid sales by helping to boost consumer confidence with assurances over battery health and running costs.
“The research shows buyers are increasingly open to considering the alternative fuel options that work best for them.”
