Commentary | Record diesel prices

Among used cars aged up to five years old, electric’s share of enquiries sent to retailers through Autotrader rose from 20.0% on 28 August to 25.8% on 27 September. Over the same period, diesel’s share fell from 6.6% to 3.2%.
Electric’s share of advert views on Autotrader for used cars aged up to five years old increased from 19.4% to 22.6%, while diesel’s declined from 5.1% to 4.5%.
The average used diesel took 34 days to sell in September, three days longer than a year earlier and nearly a week longer than the 28 days taken by the average used electric car. 3–5-year-old EVs are selling in just 25 days.
Growing demand for electric comes despite tightening availability: among used cars aged up to five years old, electric’s share of stock fell from 14.3% to 12.9% between 28 August and 27 September.

With diesel now at a record high of almost £2 a litre, higher costs at the pump are continuing to strengthen the financial case for electric cars and car buyers are voting with their feet. Over the last month, used electric cars have increased their share of enquiries on Autotrader by more than a quarter, whilst diesel share of enquiries have halved - a striking indication of how quickly car buyers’ considerations are shifting.

Key spokesperson

Ian Plummer

Chief Customer Officer

CONNECT

“That shift is increasingly visible on forecourts too. The average diesel is now taking 34 days to sell — nearly a week longer than an electric car. Record pump prices are adding fresh momentum, but the case for electric has been building for some time, supported by greater choice, increasingly competitive prices and lower running costs."