- 22% of car buyers say they will buy a hybrid as their next car
- One in 10 car buyers are considering EVs as next purchase
- Nissan Leaf becomes eighth fastest selling used car in June 2019
24 July 2019 Hybrid has cemented its position over diesel as the second most popular fuel choice amongst car buyers considering their next purchase, according to Motors.co.uk’s latest Consumer Insight Panel survey.
Whilst petrol remains the most popular fuel choice with over half (52%) of consumers considering their next car, hybrid comes second with 22% of buyers, pushing diesel into third place with only 16% of buyers.
The research also identified electric as the fastest growing fuel type with 10% of consumers saying they expected to buy an EV as their next purchase, compared with just 5% when the research was last conducted in August 2018.
Although traditional fuel types continue to dominate both the new and used car markets, the latest Consumer Insight Panel research shows how consideration of petrol vehicles for future purchases has dropped from 57% nine months ago to 52% and from 19% to 16% for diesel.
The survey, conducted by Insight Advantage, the independent research agency, polled the views of 1,006 new and used car buyers in early May. The full findings will be published in the second Motors.co.uk Consumer Insight Panel – Summer 2019.
“Our Consumer Insight Panel research shows how alternative fuels are being increasingly considered by car buyers for their next purchase,” said Dermot Kelleher, Motors.co.uk’s head of marketing and business intelligence.
“The percentage of consumers expecting to buy an alternative fuel vehicle (AFV) as their next purchase has grown since last summer, with hybrid increasing the gap between it and diesel as the number two choice. This increase in intent to choose hybrid reflects its position as a practical transitional technology, with some drivers seeing it as a viable alternative to diesel.
“However, in terms of the overall impact of this desire for AFVs on used sales in the short to medium term, I think we will see consumer demand being greater than supply, resulting in continued strong sales for the traditional fuel types,” he said.
Motors.co.uk’s Consumer Insight Panel research also found cost and range anxiety remain barriers to mainstream adoption of EVs with 67% of respondents saying they would make the switch if EVs became cheaper, while 61% said they would change if they were able to do over 300 miles on a single charge. However, less than a quarter (21%) said their daily commute was too great to consider an EV.
“Whilst sales of EVs are growing, overall volumes are still small. However, this will change with the removal of benefit-in-kind taxation for company car drivers in the 2020/21 tax year, the commitment shown by BMW Group to build an electric Mini in Oxford and Jaguar Land Rover’s investment in EV production at Castle Bromwich.”
Meanwhile, the Nissan Leaf has become the eighth fastest selling model in the used car market, taking just 31 days to sell in June against an industry average of 38 days, according to the latest Motors.co.uk Market View.