ELECTRIC VEHICLES IN NEED OF A 'PUSH'
Sales of electric vehicles are still rising, despite the gloom from Tesla earlier in the week. While the fleet side of the market is driving the growth, more needs to be done to stimulate electric vehicle demand among private buyers where affordability remains the #1 barrier. That said, manufacturers are fighting harder than ever to tempt customers, as more than three-quarters of new EVs are now advertised on our website with discounts, with the average discount applied increasing to 11% last month. That trend only looks set to accelerate as manufacturers struggle to meet strict ZEV mandate targets in a much more competitive landscape. The arrival of new Chinese entrants is likely to continue to shake up the market and bring down prices for consumers. Their share of new car advert views on our platform has more than tripled since March 2021. Underlying demand from consumers also remains strong after a record 89.1m visits to our website last month.
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