EV interest soars after 2030 announcement
There has been a huge spike in interest in electric vehicles on Auto Trader’s marketplace ever since the government announced the ban on the sale of new internal combustion engine (ICE) cars from 2030.
Advert views for new EVs increased 124% the day after the announcement, whilst Auto Trader’s pay per click advertising for electric and hybrid cars recorded a 422% increase in impressions and a 636% increase in clicks compared to the previous day.
This significant surge in activity helped double the number of new EV leads sent to retailers, increasing 107% overnight.
In total, the number of new electric leads in November increased 421% year-on-year.
Auto Trader’s commercial director, Ian Plummer, said: “The government’s plan is commendable; however, it’s also hugely ambitious. Whilst the data highlights a significant growth in EV demand, boosted by the Prime Minister’s announcement, albeit temporarily, conversion from consideration to purchase remains low, and a long way off from what’s necessary to achieve the 2030 target.
“Environmental concerns are increasing, but price remains the primary driver of adoption, and beyond much needed government incentives, the onus will be on retailers and manufacturers to make the switch from ICE feel more affordable. Bringing attractive and affordable finance options to the fore, as well as highlighting the benefits of EVs on the basis of their overall cost of ownership, will be essential in building both the appetite and trust of apprehensive car buyers. Most importantly, it will be key to unlocking valuable sales opportunities in a sector of the automotive market which is only set to grow.”
