Vallance: It’s impossible for majority to buy electric car
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Customers looking to place an order in January 2023 will be waiting for an average of 28 weeks when anticipating their new electric vehicle. While this is still a staggering waiting period for some, it is a significant decrease of 13.2 percent (from 35 weeks) since the same time in October.
The industry experts at Electrifying.com believe that waiting times for electric cars have tumbled as drivers pause purchases in the face of higher energy costs and cost of living worries.
This decrease in demand has corresponded with a gradual increase in supply as production recovers after the pandemic and other global events.
The most significant sign of this is from 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, some with huge discounts of over £7,000.
Other cars with short waiting times include Renault’s Zoe and Megane E-Tech models, with some dealers offering delivery in just four weeks.
Those who are in the market for a new family car may also want to consider the Volvo XC40 Recharge, which has a comparatively short wait of three months.
In comparison, similar offerings from Audi and BMW, whose Q4 and iX3 models both have waiting times of nine months.
Customers waiting on a new Volkswagen will also find they’re waiting for longer than they may expect, with delivery not expected for at least 10 months on all of their electric models.
This change in tide follows a post-pandemic period which saw a huge surge in demand for electric vehicles.
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Global challenges have created a “perfect storm” for carmakers, forcing them to slow down production of new vehicles and causing long delays for deliveries.
Worldwide shortages of semiconductors and other key parts, as well as the Russian invasion of Ukraine, have hampered production.
Some manufacturers have been prioritising the production of premium cars over more affordable models.
Ginny Buckley, founder and CEO of Electrifying.com, said it was good news for drivers that lead times were decreasing but highlighted the impact of the cost of living crisis.
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She added: “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.”
Many of the most premium electric car models, saw waiting times decrease slightly including Polestar 2, Tesla Model 3 and Y and the Porsche Taycan Saloon.
Vehicles including the Hyundai IONIQ 6, Lexus UX300e, MG ZS EV and the Porsche Taycan Cross-Turismo all have waiting times of 12 months.
As highlighted by Ginny Buckley, there are only three EVs with a starting price of under £30,000 – the MG4 at a starting price of £25,995, the Nissan Leaf at £28,995 and the MINI Electric at £29,000.
The MG4 has a lead time of four months, up from six weeks in October, while drivers wanting to buy the Nissan Leaf and MINI Electric will have to wait seven and three months respectively.
The biggest price increase has been the Fiat 500e, which has seen the price of the cheapest version leap from £19,995 to £30,645 – an increase of 53 percent since this time in 2020.
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