Number of Brits looking to buy electric vehicles soaring ‘well ahead’ of demand for combustion engine, analysis shows
The number of prospective UK car buyers looking to go electric is soaring despite only a “minimal” increase in those wishing to purchase traditional combustion engine vehicles, new research from the consultancy EY has revealed, as the number of Brits seeking normal vehicles slips well behind its charged-up competition.
As of this year, more than half of potential car owners (54 per cent) are looking to buy an electric vehicle (EV), a “significantly higher” figure than the 41 per cent seeking Internal Combustion Engine motors (ICEs), EY’s latest Mobility Consumer Index says.
The growing preference toward buying an EV – up five per cent on 2022 – far outpaced a minimal uptick in overall car-buying intent, which rose one per cent in the same period.
High fuel prices, penalties on ICEs and rising environmental concerns were cited as the key drivers of UK EV demand in the report.
Maria Bengtsson, electric vehicle lead at EY UK, said: “EV buying intent continues to increase in the UK, as consumers place a greater focus on sustainability and attitudes towards EVs improve.”
“These findings from our latest Mobility Consumer Index are also backed up by the recent growth in EV sales in the UK, with Battery Electric Vehicle (BEV) sales up 60 per cent year-on-year in May.”
David Borland, EY’s UK and Ireland automotive leader, said the survey “highlights the continued demand from consumers for alternative powertrain technologies that are not completely reliant on public charging infrastructure.”
The report come after strong criticism in recent months, that Britain has fallen behind its European and global competitors in the transition to electric vehicles.
However, despite complaints over poor home manufacturing capacity and a slow charge point roll-out, demand for the vehicles has continued to soar.
Monthly figures released by the SMMT this year have shown a consistent increase in market share for electric motors since January, with the most recent figures for May revealing a more than 50 per cent jump on the two months prior.
Still, of those to express misgivings surrounding around EVs in EY’s survey, 37 per cent said they were deterred by a lack of charging stations currently in place – the number one concern.
The upfront costs of purchasing an EV vehicle (36 per cent) came in close second.
Bentsson added: “Charging evidently remains a significant concern for potential EV buyers, both in relation to availability and cost. While it is clear that the number of chargers across the UK will need to increase significantly, it is also critical to ensure that charging capacity is available where EV drivers need it.”