LSE: 835.40 GBP -8.60 (-1.02%)
Menu
Close
06 November 23 Press releases

New car commentary | November 2023

Ian Plummer, Commercial Director of Auto Trader, the UK’s largest digital automotive marketplace, commented:


 

With tough Zero Emission Vehicle mandate requirements looming, manufacturers will be using every tool they can to increase new electric sales – currently, our research shows over two thirds of new electric cars are enjoying some kind of offer. By combining discounts and finance offers on the table, monthly payments for new electric cars are getting ever closer to petrol and diesel costs, marking an exciting point in the journey of mass electric adoption.

Key spokesperson

Ian Plummer

Commercial Director

CONNECT

Our data shows that when the price is right, electric cars sell well – right now in the used car market electric is the fastest selling fuel type following months of price drops. So, it’s no surprise manufacturers are utilising multiple consumer incentives to ramp up demand in the new electric market, where finance penetration is high and monthly payments are the norm - and average RRPs for new electric cars are a third more expensive than petrol or diesel counterparts. With this context, retailers who can combine the strength of both electric affordability and availability of stock will dominate.”.


 

Share:
Up next
Auto Trader data to power Office for National Statistics' official measures of inflation
Read More
Retailers embracing digital are reporting more sales, more efficiency and more satisfied customers
Read More
Auto Trader is first FTSE 100 to achieve Gold Carbon Literacy status
Read More

Stay up to date

Follow us on our social channels to keep up with the latest news, insights and company developments.

 

If you would like to be added to our News & views mailing list, or have any media-related enquiries, please contact our press team:

Auto Trader UK

Auto Trader Insight

Auto Trader Life

Other Group sites

Looking to join the team?

Careers

Looking to buy or sell a vehicle?

Consumers

Keep in touch

Sign up to our email alerts service:

RNS alerts

Join our news & views mailing list
or submit media-related enquiries:

Contact our press team
  • @2024 Auto Trader Group plc. Registered in England with company number: 09439967.