10:42 am, January 3, 2023
Waiting times for brand new electric cars have tumbled due to a slow-down in demand.
New data from electric car website Electrifying.com reveals buyers will now be waiting for seven months on average for the keys to their new EV.
Customers looking to place an order in January will be waiting an average of 28 weeks for their new car – down 13.2 per cent, from 35 weeks, since the same time in October.
Electrifying said the fall in demand is the result of consumers feeling the pinch from higher energy costs and cost of living worries.
The website pointed to Tesla which has switched from selling every car it could import to having hundreds of its popular Model 3 and Model Ys in stock for instant delivery.
Prices of some Model 3s and Ys have been slashed by over £7,000.
Electrifying said other cars with short waiting times include Renault’s Zoe and Megane E-Tech, with some dealers offering delivery in just four weeks.
The Volvo XC40 Recharge has a comparatively small waiting time of three months – similar offerings from Audi and BMW, whose Q4 and iX3 models both have waiting times of nine months.
Volkswagen models have some of the longest waiting times with delivery not expected for at least 10 months on all electric models.
Founder and CEO of Electrifying.com Ginny Buckley said: ‘The news that waiting times are decreasing by a significant amount will be welcomed by many, however it also signals a change in consumer behaviour driven by the cost-of-living crisis ,
‘If the car industry is to ride through this turbulent time, it needs to think about the impact of prioritising the production of SUVs and more premium models.
‘Going into the new year, we need to start seeing more affordable cars brought to market to encourage private buyers to make the switch; at the moment there are just three electric cars available which are priced under £30,000 and the lack of affordable models is having a detrimental effect on the market.’
The change in the new EV market is reflected in the used sector, too.
Figures shown to Car Dealer by Cap HPI shows prices of used electric cars plummeted in December for the fourth month in succession.
The firm said electric vehicles were ‘the most challenging area of the used car market’ last month.
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