Energy crisis impacting EV sales
- 25 January 2023
- Posted by: Alan Feldberg
- Category: News
The ongoing energy and cost-of-living crisis is impacting buyers’ decision to consider an electric vehicle as their next car.
This is according to a year’s research carried out by What Car?, which analysed more than 40,000 responses.
It found that interest in new EVs was high between March and late July, but began to wane from August onwards as energy prices rose.
The energy cap in October saw interest rise again, when 30% of the 1,400 in-market buyers surveyed said they were interested in an EV.
Steve Huntingford, editor, What Car?, said: “Electric vehicle sales were the big success story last year, outselling diesels for the first time ever. As our research shows, to continue that success depends on mitigating the effects of the cost-of-living crisis.
“Importantly, government support for the industry and consumers has a clear impact on people’s vehicle choice – schemes such as the energy price cap provided reassurance for buyers which was reflected in greater interest for EVs. This is something the government should bear in mind, especially as more manufacturers continue to increase their electric offerings to meet the 2030 diesel and petrol ban.”