Demand for EVs reaches record levels thanks to fuel crisis as Kia and Hyundai steam ahead of competition

  • Advert views for EVs shoot up as fuel prices continue to rise, Auto Trader finds
  • Proportion of electric cars viewed on Auto Trader reaches 30.7 per cent
  • Kia EV6 and Hyundai IONIQ5 establish themselves as post popular electric vehicles

Time 1:16 pm, March 16, 2022

Demand for EVs has reached record levels this month as fuel prices continue to skyrocket, new data has shown.

Figures from Auto Trader found that proportion of electric cars viewed on the platform shot up to an all time high of 30.7 per cent over the weekend (March 12-13).

The rise smashed the previous record of 26 per cent, which came last September when there was another fuel crisis.

EVs now account for one in five (22 per cent) of all new advert views on Auto Trader.

The marketplace’s data shows that it is Kia and Hyundai that have been the most successful brands to make the transition to electric, leaving their premium European counterparts lagging in the popularity stakes.

Kia is setting the pace with its incredibly popular EV6, which is not only the most popular electric vehicle on the marketplace but is currently the most in demand of any fuel type.

Its fellow South Korean car, the Hyundai IONIQ 5, is ranked the fourth most popular EV on Auto Trader.

Kia’s EV6 appeal puts them above traditional ICE premium marques such as BMW’s iX, which sits third on Auto Trader advert views, and the sixth-placed Mercedes-Benz’s EQA.

The two firms sit 6th and 10th respectively when it comes to the petrol and diesel market but their hugely successful transition to electrifying their range has enabled them to grow their share beyond their traditional positions.

According to SMMT, one in every eight cars sold so far this year is either a Kia or a Hyundai.

Hyundai Ioniq5

In terms of price, both Kia and Hyundai’s EV models are going toe-to-toe with the premium marque’s ICE models, with the average EV6 priced at around £45,000 on Auto Trader, compared to around £43,000 for the BMW 3 Series.

More than half of would-be EV6 buyers – or 53 per cent – earn more than £50,000 compared to just 38 per cent for Kia’s ICE buyers.

Erin Baker, editorial director at Auto Trader, said: ‘Consumers with long-standing brand loyalty to premium European brands are actively turning to a Kia or Hyundai when they seek out an electric vehicle.

‘People who would have previously dismissed these marques are re-evaluating what they want and what they value and the impact on these two brands has been transformative.

‘What they have achieved in this hugely competitive and very fast-moving new sector of the industry, is really quite remarkable.

‘They’ve set a new benchmark in quality, performance, styling, and price, that won’t be easy to reach.’

Jack Williams's avatar

Jack joined the Car Dealer team in 2021 as a staff writer. He previously worked as a national newspaper journalist for BNPS Press Agency. He has provided news and motoring stories for a number of national publications including The Sun, The Times and The Daily Mirror.

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