W4 Residents Third Most Likely in UK To Buy Electric Car
Advent of ULEZ believed to have boosted interest locally
The latest analysis by the Auto Trader Group has shown that Chiswick residents are the third most likely in the country to be buying an electric car (EV).
Using their own audience demographics tool they have profiled EV ‘intenders’ and only Fulham and Hampstead came out with a higher likelihood of making the switch.
It is thought possible that the proportion of people considering buying electric in W4 has been boosted by the advent of the Ultra Low Emission Zone which is forcing many owners to sell diesel cars.
The EV buyer is typically older (33% are over 55, compared to just 23% of the Auto Trader average) and more affluent (33% are in the +£75k income bracket, compared to 17% of the Auto Trader average.
In terms of which brands EV intenders are most interested in, Tesla remains the most desirable by some distance, accounting for 27% of electric car advert views in December, followed by Nissan (11%), Renault (8%), Volkswagen (8%), and BMW (7%).
Auto Trader now believes that , the sale of new electric vehicles (EVs) could overtake petrol and diesel sales by as early as 2025, whilst alternatively fuelled vehicles (AFV) more broadly, could pass them even earlier, in 2024.
They expect EVs will account for around 10% of market, and AFVs around 18% in 2025 and by the time the government’s ban on the sale of new petrol and diesel cars comes into effect in 2030, they’re likely to represent as much as 30% and 40% respectively.
The levels of demand (based on searches and advert views on Auto Trader) for EVs increased by a massive 93% year-on-year (YoY) in November. In contrast, demand for petrol increased just 0.6% YoY last month, whilst diesel dropped -7.7%.
Auto Trader’s commercial director, Ian Plummer, said. “We’ve based our projections quite conservatively on the current trajectory of AFVs and ICE vehicles in the market, as well as the trends we’re observing on our marketplace. Over the last few years we’ve seen consumer sentiment towards electric grow steadily, and whilst conversion from consideration to purchase remains relatively low, it is accelerating as the latest models become ever more attractive, while aspirational brands like Tesla help shift consumer perception. When they become more affordable and the required infrastructure improves, we’re confident we’ll see adoption levels increase significantly and rapidly.”
January 30, 2021