• Fisc News

Customers More Likely To Buy Electric Cars Post-Covid

A recent article in AM Online suggests that almost half (49%) of UK motorists expect to buy an electric vehicle (EV) in the next decade, according to data from a recent Lloyds Banking Group study.

The study indicated that sustainability of transport was a higher priority for customers than before the coronavirus pandemic, with almost a third planning to make their next vehicle purchase an EV or hybrid.

Over 40% of drivers that took part in the study said they would be happy to pay more for an EV than a petrol or diesel car, with cheaper road tax and cheaper running costs leading to savings in the long-run being seen as the top advantages of hybrids and EVs.

However, 57% of those asked said they’d only consider making the switch if the prices of new EVs were to fall closer to those of traditional ICE vehicles.

Only a third of those asked showed concern over running out of battery mid-journey, suggesting that so-called ‘range anxiety’ is on the decrease.  But half did show concern about charging facilities close to home and two thirds said reliable information about battery charge remaining would be very important when considering buying a new EV.

There is a general lack of confidence amongst motorists however, that the UK will meet the Government’s ban on the sale of new petrol and diesel vehicles by 2030, with many believing that 2050 would be a more realistic and achievable target.

The full article can be read here: Post-pandemic car buyers have higher appetite for EVs | Market Insight (am-online.com)

FISC is working hard to assist our clients with the transition from ICE to LEVs.  Exciting new features coming to eMaster in the coming weeks will further assist dealers to compel customers to take the leap into the new era of motoring.