Demand for electric vehicles grows dramatically despite supply issues

Demand for electric vehicles has increased dramatically in the past year as drivers switch from petrol and diesel cars, with issues over supply influencing vehicle choice.

The latest insights from car website DoneDeal found demand for premium nearly new electric vehicles (EVs), that is 1-4 year old models worth over €30,000, increased 268% year on year in January 2023 (Source: DoneDeal proprietary Ad View Data).

DoneDeal’s motor insights show increasing demand for brand new EVs - demand is up 32% year on year. However, due to issues in the supply of new EV models to Ireland, consumers are looking to the nearly new premium used EV market to fulfil their needs.

DoneDeal survey data found that those who go electric stay electric with 70% of people who made the switch from petrol and diesel to electric planning to stick with electric for their next purchase

74% of EV drivers have found that their running costs are less than their previous petrol or diesel car. 

These savings applied to not only new EVs. Of the 38% of respondents who purchased a used EV, 63% found that their second hand EV was cheaper to run than their previous diesel or petrol.

The average EV driver now spends €1,306 on electricity, according to figures released from AA Ireland.

The AA found that EV driving costs are around 34% less than running an equivalent petrol vehicle when it comes to fuel costs.

Petrol and diesel costs are set to increase in the coming months as the Government is expected to remove the reduced excise charges on petrol and diesel which were brought in to ease the cost of living crisis.