The announcement of the first tranche of models approved for the Government’s Electric Car Grant (ECG) has accelerated plans by UK motorists to purchase EVs, despite initial confusion around which cars will be eligible. New research by Venson Automotive Solutions reveals that just over half of drivers (51%) say that the introduction of the grant will encourage them to make the move to EV earlier than planned. This figure jumps to 87% among drivers aged 25-34 years old.
Businesses will welcome signs of growing public support towards greener motoring, with nearly three quarters (72%) of motorists saying the ECG is a positive move on behalf of the Government.
Despite this positivity, appetite to buy EV’s diminishes with age according to Venson’s research. When asked whether they have been considering buying an electric car in the next 12 months, just 43% of all respondents said yes. However, this rises to 83% among those aged 25-34, compared with 49% for the 35-44 age group and just 22% for those aged 55-64. With discounts up to £3,750 available at the point of sale for new eligible electric cars priced at or under £37,000, those younger drivers with the enthusiasm towards more sustainable motoring may well take advantage of electric miles in the future.
Gender also appears to influence EV purchasing intent. Venson’s research revealed that more men are switched on to buying electric. Almost half (49%) say they are considering buying an electric car in the next twelve months, this compares with just 38% of women.
With some of the most popular fleet electric cars, like the Tesla Model 3, or BYD’s Seal not eligible for the grant, it is a small wonder to learn that over two thirds (68%) of motorists, believe that the Government grant should apply to all electric cars, regardless of price.
The ECG forms part of a broader Government strategy to encourage EV adoption. Following the £400 million infrastructure investment announced in June’s spending review, the £650 million funding of ECGs comes alongside the announcement by the Department for Transport (DfT) that road signs to electric vehicle charging hubs will be introduced on major A roads in England. It is clear that the UK Government is trying to boost the move towards EV registrations, and these initiatives appear to be resonating. Indeed, when asked whether clear signage to charging hubs would encourage them to switch to electric motoring, over half (52%) of drivers agreed that they would.
Simon Staton, Client Management Director, Venson Automotive Solutions says, “There’s no doubt that confirmation of the first ECG eligible models by the Department for Transport is a positive step for the market. Indeed, our research shows driver support for EVs remains strong, especially among 25-44 year old drivers.
“However, whilst manufacturers continue to engage with Government over which cars are eligible, drivers may well wait for certainty, with EV sales losing traction. But overall, we’re optimistic that the enthusiasm for the Electric Car Grant, coupled with current manufacturer incentives, such as discounts and service packages, will help sustain momentum.”
