Friday 24 February 2023

‘EV demand is falling’

Demand for electric vehicles (EVs) is falling.

That’s according to a new survey conducted by the AA, revealing that just 18% intend to buy an EV as their next car, which is 7% fall from last year.

Data is also referenced in the study that last month, just 13% of new vehicles purchased were electric, which was lower than the overall average for the year in 2022.

Similarly, a study by Department for Transport revealed that out of more than 2,000 people questioned, only 4% own an EV or a hybrid.

More than half did say it was ‘fairly likely’ that they would get an EV in the future – but revealed this would not be soon, with prices too high and not enough charging infrastructure in place.

In addition, the AA revealed that for the last three months of 2022, EVs made up just 4.8% of all searches made using its platform – a large fall from 11.2% in 2021.

The study found that 82% of drivers looking to change cars this year will be swapping a petrol or diesel for another petrol or diesel.

Mark Oakley, Director of AA Cars, said: “[Our] search data shows buyers are showing particular interest in smaller cars that are affordable to buy and cheap to run. This may also be behind the cooling appetite for EVs, as they typically cost more upfront than their petrol or diesel equivalents.”