Searches for electric cars up to 30 times more likely to result in a sale

New study from BuyaCar shows more serious intent to buy among customers who search for electric vehicles (EVs)

By
Ian Osborne
July 29, 2021
Category:
EV Life

Searches for electric vehicles (EVs) are up to 30 times more likely to result in a purchase than searches for conventional petrol and diesel-engined cars, according to a new study.

The study, which was carried out by BuyaCar.co.uk, a leading online used car supermarket, compiled data during the first six months of 2021. During this time overall interest in electric vehicles remained stable at 7-8 percent of all searches where a fuel type was specified.

BuyaCar analysed tens of thousands of searches for EVs to identify the likelihood of a search converting into a sale. They found that customers who search for an electric car are significantly more likely to buy a car than those who search for an internal combustion engine (ICE) car.

In the case of BuyaCar’s best-selling used electric cars, the Nissan Leaf and Renault Zoe, the conversion of a search to a sale ranges from 17 times to more than 30 times higher than BuyaCar’s most popular conventional car, the Mercedes A-Class.

EVs still account for a minority of BuyaCar’s sales but analysts believe that those interested in an electric vehicle arrive on the site with a much higher commitment to buy.

The electric car most likely to convert from a search to a sale on the website is the Honda E, with 2.4 purchases for every 100 searches for that model. In contrast, it takes more than 1,000 searches for BuyaCar’s most popular conventional car, the Mercedes A-Class, to result in a sale.

This analysis paints a picture of much more serious intent to buy among those customers who search for electric vehicles.

Christofer Lloyd, BuyaCar editor, said: “This analysis seems to paint a picture of a highly committed EV customer base which is confident about what it wants, in contrast with other car buyers who tend to browse more generally.

“This analysis is also valuable to car manufacturers and dealers who are always interested in understanding the difference between a casual enquiry and one with a stronger underlying commitment to purchase. It suggests that the hottest leads of all come from those shopping for an EV.

“It is also notable that some car brands clearly enjoy an advantage when it comes to their reputation as EV producers. For example, the Volkswagen Golf tops the chart for most-searched-for electric car and the Nissan Leaf comes in third. But when it comes to a purchase, the Leaf maintains third place in terms of conversion, while the Golf drops out of the top 10.”

EV search rankings on BuyaCar.co.uk compared with conversion to sales

Searches (ranking high to low)

  1. VOLKSWAGEN GOLF
  2. HYUNDAI KONA
  3. NISSAN LEAF
  4. HYUNDAI IONIQ
  5. RENAULT ZOE
  6. PEUGEOT 208
  7. VOLKSWAGEN ID
  8. BMW I3
  9. PEUGEOT 2008
  10. MG ZS

Search-to-sale conversion (ranking high to low)

  1. HONDA E
  2. BMW I3
  3. NISSAN LEAF
  4. SMART FORFOUR
  5. KIA SOUL
  6. TESLA MODEL S
  7. PEUGEOT 208
  8. KIA E-NIRO
  9. RENAULT ZOE
  10. MG ZS
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