Searches for alternatively fuelled vehicles hit all-time high, says Auto Trader

The proportion of searches for alternatively fuelled vehicles on Auto Trader has hit a record high of five per cent in March, up from four per cent in January and February. The most popular electric model based on search volume was the Nissan Leaf, and the most popular hybrid model was the Toyota Auris.

Whilst new diesel registrations continue to fall, prices for used diesels are increasing and recorded year-on-year growth of three per cent in March. Though broadly in line with the 3% growth recorded in January and February, March saw the highest level of price growth since May 2015.

However, the proportion of searches for diesel vehicles on Auto Trader decreased in March, from 53 per cent to a record low of 51 per cent. Searches for diesel vehicles have fallen dramatically in recent years, dropping from 71% in November 2016.

On average, 21% of all searches that take place on Auto Trader each month are based on fuel type. Although diesel remains the most searched-for fuel type, the proportion of searches for petrol vehicles increased last month from 43% to 45%.

Growth in used petrol prices continues to outstrip diesel, with year-on-year growth of 10% in March. The average cost of a used petrol car last month stood at £10,712, a £21 month-on-month decrease, but a significant £1,704 jump compared to March 20172.

Commenting on the findings, Karolina Edwards-Smajda, Auto Trader’s Retailer and Consumer Product Director, said: “It’s exciting to see that consumers are, albeit slowly, beginning to see alternatively fuelled vehicles as viable options. However, there are still some very real barriers hampering more widespread adoption. Our March market report found that 59% of recent car buyers who chose not to purchase an electric car were put off by the upfront expense. We believe finance will be a key enabler to greater consumer uptake of electric and hybrid cars, but we also need government to step up and offer willing early adopters greater incentives to buy electric.”

The Auto Trader Retail Price Index combines and analyses data from around 500,000 trade used car listings every day, as well as additional dealer forecourt and website data (OEM, fleet and leasing disposal prices, in addition to pricing data from over 3,000 car dealership websites and data from major auction houses across the UK), ensuring the Index is an accurate reflection of the live retail market.