EV Purchase Intent Reaches Record Levels, Reports Motors & Cazoo

Why It Matters

The surge in EV purchase intent signals a rapid consumer shift that will reshape dealer inventories, pricing dynamics, and the broader automotive supply chain.

Key Takeaways

• 55% of buyers plan hybrid or EV next purchase
• EV intent climbs to 24%, highest ever recorded
• 53% prefer new EVs, only 25% choose used
• Used EV prices rise 5% to £23,313 (~$29,600)
• 62% of EV buyers switch directly from petrol or diesel

Pulse Analysis

The latest Motors/Cazoo panel underscores a pivotal moment for electric mobility in the United States and Europe. With more than half of surveyed shoppers now targeting a hybrid or fully electric vehicle, the traditional dominance of internal‑combustion models is eroding. Rising fuel prices and expanding charging infrastructure are amplifying consumer confidence, while manufacturers’ aggressive pricing strategies have made EVs increasingly affordable on a total‑cost‑of‑ownership basis.

Dealers are feeling the pressure to adapt to a pronounced split between new and used EV demand. While 53% of respondents would buy a brand‑new EV, only a quarter are comfortable with a used unit, prompting dealers to bolster warranty programs and introduce battery‑health certifications. The recent 5% month‑on‑month price uptick for used EVs—now averaging £23,313 (about $29,600)—reflects tightening inventory and a willingness among buyers to pay a premium for proven technology. Retailers that can offer transparent battery diagnostics and flexible financing are likely to capture the most market share.

Looking ahead, the record‑high intent figures suggest a sustained acceleration in EV adoption that will reverberate across the supply chain. Automakers are expected to increase production capacity, while component suppliers—especially for batteries and power electronics—must scale to meet demand. Policymakers may respond with additional incentives or infrastructure investments, further lowering barriers for consumers. For investors and industry executives, the data signals that EVs are moving from niche to mainstream, reshaping everything from dealership floor plans to after‑sales service models.