Car subscription firm Mycardirect is significantly outperforming the overall new car market on take-up of electric vehicles, supported by the flexibility of its business model. 

Mycardirect’s battery electric vehicle mix now stands at 28%; that’s double the share seen in the UK car market

The business, which launched in the UK in 2020, has seen its battery electric vehicle mix rise to 28%; that’s double the share seen in the UK car market, which stands at 14% YTD.  

The company attributed the increased performance due to the solution’s ability to provide customers with maximum flexibility compared to traditional purchase or leasing schemes – enabling them to try out an EV safe in the knowledge that they can switch vehicles within their contract period if need be.  

However, it noted that not one customer has decided to make this switch from electric back to petrol- or diesel-powered vehicles.  

Mycardirect also highlighted that the inherent flexibility of car subscription can help shield customers from changes to government grants or taxation. 

Duncan Chumley, Mycardirect CEO, outlined: “We are hugely encouraged by the take up of electric cars and we are delighted to be beating the market by a rate of 2 to 1. Our customers have told us that they love the flexibility our service offers. They are encouraged to try an electric vehicle for the first time, with no fear of being stuck with it if it does not suit their needs. That’s the beauty of our flexible subscription service.

“In addition, our customers are also delighted that they can try a number of the latest EV models on the market, often without having to wait, due to the current long lead time with a number of manufacturers.” 

Latest data from Mycardirect also reveals the most popular electric cars with customers so far have been the Tesla Model 3 and Model Y Long Range, Mercedes-Benz EQC/EQA and the Audi Q4 e-tron. It’s also now expanded its line-up with the BMW iX xDrive50 M Sport and Audi RS e-tron GT Quattro.