EV retailer numbers remain steady amid government indecision, market instability

The number of car retailers offering electric vehicles (EV) has stayed consistent year-on-year, with the lack of growth blamed on government indecision and market instability.

Auto Trader’s research reveals that more than half (53%) of retailers disagree with the Labour Government's decision to reinstate the 2030 ban on selling new petrol and diesel cars.

Among franchise retailers, nearly half (48%) support the 2030 ban, compared to only 31% of independent retailers.

Following the previous government's decision to push the ban to 2035 last October, nearly a quarter (22%) of franchise retailers said they would reduce their electric vehicle (EV) inventory, while almost half (48%) of independent retailers indicated they did not stock EVs and would be even less likely to do so.

In July 2023, data from Auto Trader showed that just over a third of retailers had at least one electric car in their inventory - 76% of franchised and 19% of independent retailers.

This figure remained largely unchanged by July of this year, with 35% of retailers, including 78% of franchised and 17.5% of independent retailers, stocking EVs.

This plateau contrasts with the previous year’s significant growth, when the percentage of electric stockists surged from 57% in 2022.

Joanna Smith, co-founder of independent dealership Wink Cars, said: “There’s still a massive lack of confidence and misinformation when it comes to making the switch to electric, and that’s not just with consumers.

“As retailers, we need to know the answers to the big questions and have confidence in them. Electric cars are a great choice for many people, so it’s time everyone was more positive about them and the benefits of driving them.”

Additional research from Auto Trader indicates that 46% of retailers see a lack of consumer confidence in the technology as a significant barrier to EV adoption.

While confidence remains a hurdle, data shows that those who have switched to electric are satisfied with their decision, with 83% of EV owners stating they would purchase electric again.

Auto Trader’s consumer research from last year underscores the importance of test drives in fostering electric adoption, with many consumers describing their first experience driving an electric car as a “eureka” moment.

Rebecca Clark, sales director at Auto Trader, commenting, said: “Electrification is a significant change, and with change comes uncertainty and confusion. That’s why we’re working to share more balanced and fact-based narratives with both retailers and consumers, to give them the confidence to start their electric journey.

“Often, it comes down to the fear of the unknown, which becomes clear when consumers tell us how quickly they were converted once they got behind the wheel. That’s why test drives are so important, and that’s what makes World EV Day such a great opportunity to get even more people into electric cars for the first time. As headline sponsors, we’re really excited about that.”