Customers going off EVs
By Sarah Wood | 1st February 2023
Used car customers prefer to stick with petrol or diesel cars, according to the latest data.
According to the figures produced by the Society of Motor Manufacturers and Traders (SMMT), the UK new car market recorded its fifth consecutive month of growth in December, with an 18.3% increase on the same month in 2021, ending with 128,462 registrations.
But used car customers have been less inclined to buy electric cars (EVs) for a number of reasons.
A big factor during the cost-of-living crisis is that EVs are generally more expensive than their petrol and diesel equivalents - with the electric version of the same model costing as much as £10,000 more.
Many customers are also concerned about the range of an EV, as well as where they are going to charge and how long it will take, especially as colder weather generally reduces the range.
Recent media reports of long queues for chargepoints at motorway service stations, as well as costs of up to £70 to charge would also have been a deciding factor for many potential customers.
With prices remaining high for used EVs, some customers looking to go electric are opting for a new rather than used car, as the prices are very similar.
Motor trade data company, Cap HPI, said: "Those (car retailers) carrying larger stocks of EVs will have their concerns and are likely to have to reduce prices to make them more attractive, if they have not done so already."
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