Electric grant news triggers surge in EV interest on AutoTrader

Auto Trader has reported a sharp spike in consumer interest for electric vehicles (EVs) following the government’s July 14 announcement of a new Electric Car Grant.

According to fresh data from the platform, the share of new car enquiries for EVs priced at £37,000 or less doubled overnight, rising from 15% on 14 July to 29% on 15 July.

The share of advert views in the same price bracket also jumped seven percentage points to reach 33%.

Wider EV interest was similarly boosted, with EVs making up 25% of all new car enquiries on July 15, up from 15% the day before.

The share of ad views for new electric cars also climbed, reaching 29%, up seven points in just 24 hours.

Ian Plummer, commercial director at Auto Trader, said: “Following the announcement of the Electric Car Grant, the share of electric enquiries for new cars priced £37,000 and under doubled in a day on Auto Trader - the first time in months that demand has outstripped supply.

"As it becomes clearer which cars are eligible and manufacturers rethink their pricing strategies to gain eligibility for the grant, we’ll likely see sustained interest in this part of the market.”