Honda e:NY1 is most in-demand EV, says Auto Trader

 
According to the latest data from Auto Trader, the Honda e:NY1 is this July’s most in-demand brand-new electric vehicle (EV), and the 7th most in-demand new car among all fuel-types, rising from the UK’s 254th in June. 

It means the battery-powered SUV is this month’s fastest-growing new car model overall, and for pure electric cars, generated more enquiries than any other model, accounting for more than one in every 10 EV leads sent to a retailer.

It marks the second time this year that Honda’s flagship EV has topped the charts, with its meteoric rise propelled on both occasions by an enticing combination of large discounts, deposit contributions and finance offers. It highlights the impact of affordability in driving consumer engagement for brand new EVs, and the steps manufacturers are taking to stimulate demand in response to this year’s ZEV Mandate targets.

Since July last year, average discounts have risen from 6.6% to 8.7%, with three-quarters of all new cars now offering some level of discount. The average discount currently applied to EVs is 10.6%. However, as well as improving affordability, brands are also responding to the challenge by improving consumer choice.

Auto Trader’s data, which is based on around 2 million monthly new car visitors, suggests that improved choice and affordability is proving a compelling combination for consumers. In fact, despite the disruption caused by the General Election, and major sporting events this month, including the Euros and Wimbledon, consumer interest for new cars remains stable, with visits to Auto Trader’s new car platform rising circa 6% year-on-year in July to date.

With the high-profile sponsorship of the Euros in June and July, BYD has employed a more high-profile tactic to raise brand awareness and drive consumer engagement with their cars. Over the course of the tournament, the brand saw a 33% increase in advert views for its new and used models versus the previous month. However, BYD is still relatively unfamiliar with UK buyers.

Commenting on the data, Auto Trader’s New Car Performance Director, Bex Kennett, said: 

“The new car market continues to face a challenging combination of new regulatory targets, increased competition, growing production, and softening retail sales. However, our data does offer some optimism as we approach the key plate change month of September. Manufacturers are working hard to stimulate demand, and we’re seeing consumers respond as a result.

“It will be interesting to see what other tactics manufacturers deploy over the coming months to move the needle, as they try to balance volume with the increasing pressure of the looming ZEV Mandate requirements. More choice, better deals, and getting in front of more new car buyers will be key.”

Most in-demand new car electric models on Auto Trader in July