9:29 am, July 25, 2024
Honda’s e:Ny1 has rocketed from 254th to seventh place in Auto Trader’s latest chart of most in-demand new models.
The fully electric SUV was propelled from its three-figure placing in June to this month’s top 10 slot, ranked by share of inquiries/leads for all fuel types, thanks to what the online marketplace called ‘an enticing combination of large discounts, deposit contributions and finance offers’.
It also made it the most in-demand new electric vehicle so far this month and means the battery powered SUV is this month’s fastest-growing new car model overall.
For pure-electric cars, it generated more inquiries than did any other model, accounting for more than one in every 10 EV leads sent to a car dealer, and is the second time this year that Honda’s flagship EV has topped the charts.
Auto Trader said it highlighted the impact of affordability in driving consumer engagement for new EVs, and the steps manufacturers were taking to stimulate demand in response to this year’s ZEV mandate targets.
Since July last year, average discounts have gone up from 6.6% to 8.7%, with three-quarters of all new cars now offering some level of discount.
The average discount on EVs is 10.6%. But Auto Trader said that as well improving affordability, brands were also responding to the challenge by improving consumer choice.
It said its data, which is based on some 2 million monthly new car visitors, suggests that improved choice and affordability are proving a compelling combination for consumers.
And it added that in spite of the disruption caused by the general election as well as major sporting events this month, consumer interest for new cars was stable.
Bex Kennett, Auto Trader’s new car performance director, 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.’
