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July 2023 - Automotive

Buying intent for electric vehicles (EVs) has risen to over 50% over the past year in the UK: A survey has found that 54% of UK potential car buyers in 2023 are considering an electric vehicle as their next purchase, compared to 49% of buyers in 2022 – a 5% increase.

More motorists are considering buying an electric vehicle as their next purchase rather than a petrol or diesel model, with just 41% saying they intend to buy an internal combustion engine (ICE) vehicle next.

The survey was conducted by EY who had answers from 15,000 respondents for their Mobility Consumer Index. The results show that the preference for an electric vehicle is growing, showing the promise for cleaner transport in the UK.

Other findings highlighted that the key motivators for potential EV buyers are high fuel prices and penalties of internal combustion engine vehicles (petrol and diesel), as well as rising environmental concerns.

The report that accompanied the survey’s findings also highlighted multiple reasons why consumers are being deterred from buying an EV, with 37% reporting concerns about the number of charging stations across the country. The second greatest concern overall was the upfront cost of an EV (36%), followed by the range of an electric vehicle (27%) and the running costs (26%).

Despite the challenges that come with EVs, however, there was a 3% increase in the number of EV owners in the market who were willing to buy another, rising from 87% in the last survey, to 90%.

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