New car commentary | April 2024
Ian Plummer, Commercial Director of Auto Trader, the UK’s largest digital automotive marketplace, commented:
With new car prices up 29% on average since 2020, there’s a risk that many consumers will be priced out of the market, which we can see playing out in April’s flat retail registrations. Even though average EV prices are only up 7% in that period, they are typically 35% dearer than traditionally fuelled petrol and diesel models.
Plummer commented: "The discounts we’ve seen manufacturers offer to incentivise consumers into new electric cars seem to be working, with BEV registrations up on 2023. That said, we'll need to see even more price action to achieve mass electric adoption.
"BYD's Seal car was among the most viewed EVs on Auto Trader in April, showing the growing influence of new entrants."
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