Consumer Interest in Electric Vehicles Remains Strong, but Hybrids Expected to See Biggest Growth: New Data

The future of the automotive industry is electric, and consumers are showing a strong interest in making the switch. According to the latest Motors Consumer Insight Survey, the number of electric vehicle (EV) owners has reached 8%, with 19% of respondents planning to make their next car purchase an electric one. However, while EVs are gaining popularity, it is actually hybrids that are expected to see the biggest growth in the coming years.

The data from Motors predicts that the number of hybrid vehicles owned could jump from 10% to 31% when buyers choose their next car. This trend is consistent with the latest figures from the ACEA, which show that hybrids are the fastest-growing segment in the European car market. The Consumer Insight Survey, which polls 2,000 car buyers, also found that nearly half of those looking to purchase an EV are focused on new models, with nearly new and used options also attracting interest.

Despite the growing interest in EVs and hybrids, there are still some concerns holding consumers back. Access to charging points remains a major concern, although it has decreased slightly from previous years. Range anxiety and cost are also factors that potential buyers are considering. Interestingly, 28% of respondents said they would never buy an EV, with this group mainly consisting of women over 45 with a household income below £30,000.

Lucy Tugby, marketing director of Motors, highlighted the opportunities for dealers in the electric vehicle market. She emphasized the need for dealers to address consumer concerns and pain points in their sales and marketing communications in order to improve the confidence of potential EV buyers. Tugby also stressed the importance of stocking a mix of fuel types to cater to the varying needs of buyers.

Overall, the data shows that while EVs are gaining traction, hybrids are set to see the biggest growth in the near future. Dealers have the opportunity to capitalize on this trend by addressing consumer concerns and offering a diverse range of vehicles to meet the needs of all buyers. The future of the automotive industry is electric, and it’s clear that consumers are ready to make the switch.