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Fuel price rises drive more consumers towards Electric Vehicles
Almost two-fifths of drivers previously not in the market for an electric vehicle (EV) have changed their mind after recent increases in petrol and diesel prices. That is the finding from a recent survey from What Car?, which polled over 1,200 drivers currently looking to buy a new car.
With 88% of respondents spending more on fuel because of price increases this year, the cost is pushing many to explore alternative options. Over a fifth of in-market buyers were already looking to buy an EV. That is in addition to the 38% who have been pushed towards EVs because of fuel prices. A minority of respondents (41%) said they would stick with petrol or diesel power in the future.
Petrol and diesel price rises
Fuel prices have slipped back again lately but, after reaching nearly £2 a litre in recent weeks, the cost of filling up has added to the cost-of-living crisis gripping the UK. The survey shows this has consumers considering their options and the EV market is booming – up 50% in the first six months of 2022 compared with last year, according to figures from The Society of Motor Manufacturers and Traders (SMMT).
Over that same period, EVs accounted for 16% of the UK new car market, up from 11% in 2021. According to What Car?, an EV can cost as little as 2p per mile to run, compared with more than 20p per mile for a petrol or diesel car. This is just one reason the EV market share continues to grow at a rapid pace and dealers should be keeping up with the trend and ensuring their customers have options when in the market for a new car.
Protecting your customer’s new EV
As with petrol and diesel vehicles, there are a myriad of financial aftercare products available to protect EV drivers. As an industry-leading provider of award-winning warranty and Motor related add-on products, Car Care Plan has developed EV specific products to ensure your customers get the same peace-of-mind and aftercare support as their combustion engine counterparts.
Our used car warranty now has specific sections covering hybrid and EV components, for example. We also cover one of the biggest concerns drivers have when buying an EV – range anxiety. Where a customer is unable to recharge their vehicle during a journey, roadside assistance and recovery can be provided.
Contact Car Care Plan’s friendly customer services team to learn more about our industry leading EV aftercare protection products.