Motorists less likely to buy an EV than at the start of 2023

Almost half of motorists (48%) say they are now less likely to buy an electric car than at the start of 2023.

Research from Startline’s December Used Car Tracker shows that 23% are worried about the cost of electric cars and the same percentage are concerned about charging infrastructure.

Additionally, 19% say that they are apprehensive about rising electric car insurance costs and 16% nervous about electric car fires. Also, 10% say they have decided to delay switching to electric following the government’s 2035 decision.

Paul Burgess, CEO at Startline Motor Finance, said: “PR-wise, it’s been a tough 12 months for electric cars. Values of used examples have fallen dramatically while there have been a lot of stories in the news about rising insurance costs and even fires.

“These all seem to have taken a cumulative toll and almost half of the motorists we surveyed have become more lukewarm about the idea of buying an electric car, even though some of the issues – the prevalence of EV fires, for example – appear to be dramatically overstated.”

However, 26% of those surveyed by Startline say they know people who are using electric cars without any problems, while 25% expect the cost of running an electric car to be reasonable. Also, 16% say that they are going to have to electrify at some point, so might as well do it sooner, and 11% that anti-electric car stories in the media are overhyped.

Paul added: “While some people might feel more wary about electric cars, the fact is that electrification continues at a pace. By early next year, there’ll be almost one million electric cars on UK roads and it is likely that by the end of the decade, buying a new petrol or diesel car will be quite difficult. Whatever reservations motorists might have, their next car may well end up being electric simply because that is the direction of the market.”

The Startline Used Car Tracker is compiled monthly for Startline Motor Finance by APD Global Research, well-known in the motor industry for their business intelligence reporting and customer experience programs. This time, 301 consumers and 60 dealers were questioned.

About the Startline Used Car Tracker

The Startline Used Car Tracker was launched in April 2022 to produce essential attitudinal data about the used car sector over time. Each month, it asks consumers about their propensity to buy, fuel choices and the factors that will affect used car purchases, as well as questioning dealers about their feelings regarding the prospects of the market, the challenges facing them and their online offering.

The research is carried out for Startline by APD Global Research, well known in the motor industry for their business intelligence reporting and customer experience programs.

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