18 May 2024
The voice of the independent garage sector

Used car buyer interest in EVs up by a third since May

Used car buyer interest in EVs has risen by a third since May, according to the latest results from the Startline Used Car Tracker. Each month, consumers are asked about their used car fuel preference. For September, 23% opted for electric, up from 17% in May when the question was originally asked.

57% agreed with the statement that EVs are “ the future” while 38% said “it is right for the environment.” However, only 4% concurred with the statement “electric vehicles are now affordable.”During the period, preference for petrol has from 39% to 33%. Diesel remained steady at 18%, along with hybrids at 27%.

Trust in internal combustion engine technology was cited by 52% of those who opted for petrol and diesel. A further 38% also agreed with the statement “electric vehicles are too expensive.”

at Startline Motor Finance CEO Paul Burgess observed: “Obviously, we expect to see interest in EVs increase over time because it is the long term direction in which the market is heading. However, it is interesting to see how consumer sentiment is shifting on an almost month-by-month basis in the Tracker.You can see a fairly rapid change in perceptions of both the cost of EVs and the technology behind them. How these are translating into actual used EV sales is difficult to say. Supply of these vehicles is even more constrained than the rest of the used car market and whatever EVs dealers can get hold of, they can sell.”

He added: “What our finding perhaps does suggest is that there is growing interest for the future and when used EV supply does start to improve, the demand should be there to support it.”