Car buyer appetite for electric vehicles is significantly higher than internal combustion engined vehicles, new research from EY has found.

EV buying intent has risen to 54% in 2023, from 49% in 2022, according to the EY research

More than half (54%) of potential UK car buyers are considering an EV – up from 49% last year and significantly higher than the 41% of potential buyers considering an ICE vehicle (42% in 2022), according to the firm’s latest Mobility Consumer Index.

The rising preference toward EVs is higher than overall car-buying intent, which has grown from 44% to 45%, and is broadly in line with the average across other major auto markets (55%).

The appetite for EVs of all types is mainly driven by increases in popularity for Plug-in Hybrid Electric Vehicles (PHEVs) and hybrids, with both seeing an increase in buying intent of three percentage points in 2023. A total of 10% said they’re likely to opt for a PHEV, while 25% said they’re expecting to purchase a hybrid. In contrast, buying intent for battery electric vehicles (BEVs) remained unchanged from 2022, with 19% of respondents saying they’re likely to buy one.

The rising appetite for EVs of all types is the result of high fuel prices, rising environmental concerns, and penalties on ICE vehicles.

However, EY’s report also highlights several key reasons why some drivers are still being deterred from making the switch.

Of those to express concerns around EVs, 37% said they were deterred by a lack of charging stations currently in place. The second biggest obstacle was the substantial upfront cost of EVs, with 36% deeming cost a key concern, while limited EV range (27%), and expensive charging/running costs (26%) were also cited.

A total of 64% of respondents indicated that 200-300 miles would be an acceptable driving range for an EV. Meanwhile, 49% were drawn to mid-range EVs, and 29% indicated their preference for premium EVs, despite the significant proportion of those put off from buying an EV due to substantial upfront costs.

With a particular focus on public chargers, respondents again placed convenience and cost among their top priorities. More than half (51%) of respondents identified difficulties locating chargers as a top challenge, while 47% said the expensive cost of charging was a leading problem. Some 40% also displayed a lack of confidence in the reliability of public chargers, citing non-functional chargers as a leading concern.

The importance of charging infrastructure at private homes, at workplaces and on streets near homes is highly significant, with 89% of UK survey respondents saying they would prefer to charge their EVs at one of these locations. Affordability provisions may need to be put in place to accelerate the UK’s EV transition, with 54% of those expressing concerns about at-home chargers stating high electricity bills were a major concern, while 44% said they were deterred by high installation costs.

Despite the ongoing challenges facing EV infrastructure, consumer confidence continues to increase, with 90% of UK EV owners currently in the market for a vehicle saying they would buy another EV, up from 87% in 2022.

Maria Bengtsson, electric vehicle lead at EY UK, said: “Charging evidently remains a significant concern for potential EV buyers, both in relation to availability and cost. While it is clear that the number of chargers across the UK will need to increase significantly, it is also critical to ensure that charging capacity is available where EV drivers need it.

“This, in turn, is not only about the physical chargers being in the right places, but it is also about ensuring information about where they are located, their availability, and details of required payment methods, are all easily and quickly accessible to EV drivers. With consumers still experiencing a lack of interoperability, the customer experience must also be improved and simplified if we are to see sustained, significant growth in EV confidence among consumers to match the UK Government’s decarbonisation objectives.”

David Borland, EY’s UK & Ireland Automotive Leader, said: “The UK auto industry continues to demonstrate resilience to the many headwinds it has faced in recent years, including the pandemic, the war in Ukraine, supply chain disruption, volatile energy prices and cost of living challenges. Demand continues to display strong recovery, with May 2023 being the 10th consecutive month of growth for passenger car sales.

“This was backed up by the survey findings, with an increase in the number of consumers preferring a personal car versus car sharing, which is a trend from the pandemic that continues to stick. The survey also highlights the continued demand from consumers for alternative powertrain technologies that are not completely reliant on public charging infrastructure.”

ChargePoint also commented on the EY research, with Jaynesh Patel, senior manager, policy – UK & Ireland, saying: “It’s promising to see buying intent for EVs increasing, indicating just how rapidly the sector is gaining popularity. The task is now on the Government to continue supporting facilitating the growth of the e-mobility sector.

“The recently confirmed UK ZEV mandate was a crucial step towards this. It brought much-needed certainty to the EV charging industry in the UK and will stand the country in good stead to guarantee the number of EVs on the road from 2024, in preparation for the 2030 ICE ban.

“In terms of infrastructure, it’s not about needing a large concentration of government-funded charging stations – we need to also consider the implementation of effortless and easy charging experiences, scalable designs, quality products and seamless service. We are at a pivotal moment in the move to EVs, making it crucial for both industry and government to work together to help improve accessibility, increase adoption and bring prices down.”