Auto advice: What are the new car trends in 2024 for engine type and brand?
Our motoring editor answers your questions on buying trends and EVs
What are the new car buying trends in 2024? And how does this compare to last year?
The most noticeable difference from this time last year is that market share has fallen for electric vehicles. From January to March 2023, a 31.4pc share of new car sales were petrol, 22.8pc were diesel, 21.8pc were hybrid, 16pc were electric and 8pc were plug-in hybrid. From January to March 2024, the market share by engine type was petrol 33.37pc, diesel 23.05pc, hybrid 21.33pc, electric 12.69pc, plug-in electric hybrid 7.92pc.
Why are electric car sales falling?
Several factors are having an impact on electric car sales. The EV market is moving from the early adopters into the more mainstream market and these buyers are proving harder to convince of the benefits of driving electric — many have concerns about battery life and the charging infrastructure. Some may be holding off for better technology, while others for longer ranges. Relatively low fuel prices over the past few months also have an impact, particularly as electricity prices remain high. The price of new EVs is falling due to aggressive discounting by some car makers in response to Tesla slashing prices. Resale values of used electric cars have reduced considerably so high depreciation is also deterring would-be buyers, while others wonder if prices will fall even more.
What cars are the most popular?
Toyota remains the most popular car brand followed by Skoda, Volkswagen, Hyundai and Kia. The Hyundai Tucson is the best-selling model so far this year with the Skoda Octavia taking second place, followed by the Kia Sportage, Toyota Rav4 and the Toyota Yaris Cross. Volkswagen and Hyundai continue to battle it out for the title of top-selling electric car brand, but in the first quarter it was VW who secured the largest share of new EV sales. Tesla came in third with newcomer BYD in fourth and Kia in fifth. The Hyundai Kona is the most popular electric vehicle so far this year followed by the Tesla Model 3, Volkswagen’s ID.4 and ID.3 and the MG4.
Top Tip: Used car imports are also on the rise and increased by 24.2pc to 15,487 compared to 12,473 in the same period in 2023 but remain 42.3pc down on 2019 figures when 26,832 used cars were imported in the first three months of the year.
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