STRONGER DEMAND FOR ELECTRIC VEHICLES SIGNALS UK IS ACCELERATING TOWARD BORIS’ NEW 2030 PETROL AND DIESEL BAN
- Demand for Electric Vehicles (EVs) high ahead of anticipated 2030 ban on new petrol and diesel cars
- Three quarters of EV interest from the last 12 months was in Q3 of 2020
- London named UK's hotspot for interest in electric vehicles
- Greater London has nearly four times as much interest in EVs than anywhere else
- East of England, Scotland, Wales and the South East make top five
The latest analysis by CarGurus.co.uk has revealed that British motorists may well be ready for wider electrification after all, well ahead of an anticipated ban on new petrol and diesel cars from 2030, expected to be announced by Boris Johnson on Thursday.
CarGurus data shows that over 75% of consumer enquiries in EVs from the last 12 months occurred between July and September of this year. This is consistent with data from the SMMT(1) which shows the September market share of EVs increased by 235% year-on-year.
The analysis from CarGurus also highlights which regions represent the biggest hotspots for interest in electric vehicles, revealing Greater London as the EV hotspot capital of the UK,(2) accounting for nearly 40% of EV enquiries(3) in the UK.
The area around England's capital had nearly four times as much interest in EVs than the East of England, which was the region with the next highest level of interest in EVs, while Scotland rounded off the top three.
Motorists in Northern Ireland might need some more convincing ahead of the 2030 petrol and diesel ban, coming last in the rankings for EV interest, well behind the East Midlands and Yorkshire and the Humber in the bottom three.
CarGurus, the fastest growing automotive shopping site in the UK(4), analysed enquiries in electric vehicles on its site between October 2019 and September 2020, from each region of the UK. Each location was then ranked based on the amount of interest in EVs, per number of cars registered locally.
Chris Knapman, editor at www.CarGurus.co.uk commented on the research, saying: "Banning the sale of all new petrol and diesel vehicles from 2030 will certainly present a challenge to the car industry. But it is without doubt that consumer interest in electric vehicles is increasing, with CarGurus data around EV inventory and enquiries mirroring the dramatic rise in battery electric vehicle registrations.
"London is displaying the most interest in EVs by quite some way, which is most likely a result of electric cars being exempt from the Congestion Charge, as well as the sheer number of chargers available to use. Across the UK, the continued investment in infrastructure combined with the increasing numbers of electric cars arriving on the new and used markets mean we are almost certain to see more drivers making the switch."
EV interest by Region(2)
1 Greater London
2 East of England
5 South East
6 North East
7 South West
8 West Midlands
9 North West
10 Yorkshire and the Humber
11 East Midlands
12 Northern Ireland
To search for a used electric car for sale near you visit: https://www.cargurus.co.uk/Cars/sptelectriccars
1 The market share of BEVs in September 2020 car registrations was 6.7%, rising from 2.2% in 2019, representing a 235% increase - Source: https://www.smmt.co.uk/2020/10/new-car-registrations-drop-4-4-in-weakest-ever-new-plate-september/
2 The rankings of EV interest correspond to the number of EV leads (from CarGurus data between October 2019 and September 2020) per 1,000 cars registered in that region (source: Department for Transport).
3 CarGurus analysed its own EV leads data from October 2019 and September 2020, dividing it by the 12 regions of the UK.
4 CarGurus is the fastest growing online automotive marketplace in the UK among its nearest competitors based on the year over year percent change in average unique monthly visitors comparing Jan - Sept 2019 to Jan - Sept 2020 (Source: Comscore MMX Multi-Platform®, Total Audience, Custom-defined list includes CarGurus.CO.UK, Motors.CO.UK, AutoTrader.CO.UK, Gumtree.com, Jan 2019-Sept 2020, UK)
How CarGurus Works:
CarGurus helps car shoppers search local car listings and quickly find great deals from top rated dealers. Every day, the company analyses millions of data points on hundreds of thousands of UK car listings to calculate each car's Instant Market Value (IMV) or fair retail price. This data is used in combination with dealership ratings from other shoppers to rank and rate available cars results based on the quality of the deal: Great, Good, Fair, High or Overpriced. The site also provides transparency on how long the car has been on the forecourt and if it's had a price drop. Consumers can contact dealers directly.
Founded in 2006 by Langley Steinert (also a co-founder of TripAdvisor), CarGurus (Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of cars. The company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top rated dealers. CarGurus is the most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive - Information/Resources, Total Audience, Q3 2020, U.S. (Competitive set: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). CarGurus launched in the UK in 2015 and is the fastest growing online automotive marketplace in the UK among its nearest competitors based on the year over year percent change in average unique monthly visitors comparing Jan - Sept 2019 to Jan - Sept 2020 (Source: Comscore MMX Multi-Platform®, Total Audience, Custom-defined list includes CarGurus.CO.UK, Motors.CO.UK, AutoTrader.CO.UK, Gumtree.com, Jan 2019-Sept 2020, UK). In 2019, CarGurus acquired UK-based PistonHeads.com, which it operates as an independent brand. In addition to the United Kingdom and the United States, CarGurus also operates an online marketplace in Canada.
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