Car buyers ditch electric vehicles

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【Summary】Over a third of UK car buyers have decided against purchasing an electric vehicle (EV) due to concerns about cost of living, according to a survey by What Car?. Of those who had already made a purchase, 36% opted for hybrids, petrol, or diesel cars instead. Among those currently shopping for a new car, 42% cited financial worries as the reason for ruling out EVs.

FutureCar Staff Nov 15, 2023 3:18 PM PT

According to a survey conducted by What Car?, over a third of recent car buyers in the UK decided against purchasing an electric vehicle (EV) due to concerns about the cost of living. Out of the 2,525 drivers surveyed, 36% admitted to changing their plans and opting for a hybrid, petrol, or diesel vehicle instead.

Similarly, among those currently looking to buy a new car, 42% stated that factors such as inflation, energy costs, interest rates, and high list prices had led them to exclude EVs from their options and consider hybrid, petrol, or diesel models instead.

The research by What Car? also revealed that these financial concerns are causing delays in car purchases. More than half of the respondents (58%) said they are postponing their next car purchase by six months or more.

For those who cannot afford to wait and need to buy a car, many are turning to more affordable used vehicles. Of the in-market buyers surveyed, 39% are now considering purchasing a used car, with 30% stating that the cost of living has influenced their decision not to buy a new car.

Steve Huntingford, the editor of What Car?, commented on the findings, saying, "Our latest research shows that concerns about the cost of purchasing and running an EV are at the forefront of motorists' minds. However, the good news is that car manufacturers are responding to these concerns. The mystery shopping data for our New Car Buying service indicates that discounts on EV models have increased by more than 200% since the beginning of the year."