• 92% of used dealers says events such as the war in Iran make more car buyers think about switching to electric
• 67% believe potential buyers are aware that fuelling an electric car is potentially much cheaper than petrol or diesel
• Also, 21% believe that rising fuel prices make people feel economically vulnerable, shows May’s Startline Used Car Tracker

May’s Startline Used Car Tracker shows 67% believe potential buyers are aware fuelling an electric car is potentially much cheaper than petrol or diesel, 57% that the sheer speed of fuel price rises is a factor and 21% that the situation makes people feel economically vulnerable.

Very few dealers hold views to the contrary. Just 5% think consumers believe the price of electricity will go up substantially alongside oil and 5% that petrol and diesel increases don’t outweigh the overall cost of buying an electric car.                                                       

Paul Burgess, CEO at Startline Motor Finance, said: “The pump price surge seen in recent weeks and months has been rapid and substantial, and electric cars potentially offer a potential route for motorists to sidestep the worst of the situation.

“Our research shows an overwhelming majority of used car dealers believe consumers understand the potential for cutting costs offered by going electric and, with relatively large numbers of vehicles now available and arguably undervalued, interest may noticeably rise.

“Of course, there remain structural issues for many potential buyers – those without their own driveway will probably have issues accessing low-cost home charging – but for others, driving an electric car is becoming a more attractive economic proposition, dealers believe.”

The Startline Used Car Tracker is compiled monthly for Startline Motor Finance by APD Global Research, well-known in the motor industry for their business intelligence reporting and customer experience programs. This time, 309 consumers and 62 dealers were questioned.