New electric cars undercut petrol for third month
New electric cars were cheaper than petrol equivalents for the third month in a row, according to Auto Trader.
Driven by manufacture discounts and the Electric Car Grant, the price of new electric car averaged £43,049 in April.
This compares to an average price of £43,178 for new petrol models.
Combined with rising fuel costs, lower prices are pushing up demand for electric vehicles with electric vehicles now the most searched for fuel type, accounting for 29% of new car enquiries in April.
Skoda was the most popular brand, with the Elroq generating a 4.1% share of enquiries in May, ahead of the Renault 5 E-Tech (3.8%) and Kia EV3 (3.7%).
Across all fuel types, the Jaecoo 7 is the most in-demand new car with 4.3% of all new car enquiries, ahead of the Land Rover Defender 110 (3.1%) and the Volkswagen Golf (3.0%).
Strong momentum
Bex Kennett, head of new car at Autotrader, said: “The new car market is carrying strong momentum into the summer, with demand growing and stock levels rising as retailers respond to increased consumer interest.
“Competition between manufacturers remains intense, particularly in the electric market, where more affordable models and attractive offers from brands like Skoda and Kia are drawing in buyers. With enquiry levels continuing to act as a leading indicator of sales, retailers that capitalise on this demand now will be best placed to maximise performance in the months ahead.”
