Demand for Premium Electric Vehicles up 268%
The latest insights from car website DoneDeal found demand for premium nearly new electric vehicles, that is 1-4 year old models worth over €30,000, increased 268% year on year in January 2023 (Source: DoneDeal proprietary Ad View Data).
DoneDeal’s motor insights also show increasing demand for brand new EVs (demand is up 32% year on year). However, due to issues in the supply of new EV models to Ireland, consumers are looking to the nearly new premium used EV market to fulfil their needs.
In total, demand for electric cars €30,000 and above has grown by 96% YoY in 2023. (Source: DoneDeal proprietary Ad View Data).
Oftentimes the success of a new technology, EVs in this instance, is judged by metrics such as total unit sales and sales growth. To gain a longer term perspective on the future of the electric car market, perhaps the more important question is how many EV drivers revert back to traditional cars having experienced an EV?
DoneDeal set out to answer this question and found that electric driving looks to be here to stay, and once a person drives an EV, the vast majority are converted and don’t look back. The latest DoneDeal survey has found that the majority of EV drivers have no plans to switch back to petrol or diesel, with 70% planning to buy another EV as their next car purchase. (Source: Survey of 3,918 car buyers in February 2023).
EV drivers have found out that EVs suit their lifestyle and in practice, are more cost effective than their previous diesel or petrol car. 74% of EV drivers have found that their running costs are less than their previous petrol or diesel car.
These savings applied to not only new EVs. Of the 38% of respondents who purchased a used EV, 63% found that their second hand EV was cheaper to run than their previous diesel or petrol.
DoneDeal looked at ad view data for cars listed on DoneDeal for the period from 2022 and 2023 to derive demand data. A survey of 3,918 car buyers on electric vehicles was conducted in February 2023.