Consumer appetite for electric vehicles reaches tipping point

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Consumer appetite for electric vehicles reaches tipping point

Have you noticed more demand for electric vehicles from your people? Are they getting more curious about the car list, are they questioning their options, calculating their tax liabilities, eyeing up the EV range’s?

If this week’s news from EY is anything to go by then if they aren’t already they will be soon. According to the latest EY Mobility Consumer Index, 52% of respondents looking to buy a car want to buy an EV. This is the first time the number has exceeded 50% and represents a rise of 22% in just 2 years! And European countries are playing a major role in driving EV adoption.

Once a major hesitation for company car drivers, range appears to be, at least in the eyes of the public at large, less of an issue. Range anxiety constantly topped the list of “reasons not to drive electric”, but with a wide selection of EV’s offering over 300 miles, range no longer causes such concerns; indeed the top motivator for second time EV drivers is that “EV’s now have longer ranges”.

The rampant fuel prices are also making EV’s much more attractive to the car buying public. But the public doesn’t often think in terms of wholelife cost, like a fleet stakeholder does, and even before the eye-wateringly high pump prices descended upon us, studies showed that in fact EV’s would have a lower total cost of ownership than 40% of combustion engine fleet vehicles: a percentage that will be even higher now, placing EV’s firmly within a company car fleet mix.

Taxation rates in countries such as the UK continue to favour EV company car drivers, where the BiK tax charge for an EV is set at 2% of list price until 2025; another considerable incentive to make the switch.

As the public demand for EV’s continues to grow, it has already spilled over into the desires of company car drivers, something that is being clearly demonstrated by the increasing number of EV drivers in the fleets of our clients.

Integrating EV’s does not need to be challenging. With the correct planning and appropriate policy development, EV’s can become an integral part of your company car fleet mix, and our EV experts at Fleetworx can help you on this journey.

To learn more about future proofing your fleet with EV’s download our whitepaper “The Charge of the Electric Car’, or contact Graham Rees on 01926 353300 to discuss how to integrate EV’s into your company car fleet.

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