SA is warming up to electric vehicles, says AutoTrader

AutoTrader, an SA online automotive marketplace,  in partnership with Smarter Mobility Africa have produced the 2022 Electric Vehicle Buyers Survey (third edition) that focuses on consumers’ perceptions of electric vehicles, as well as their EV preferences.

It reveals a slight shift in sentiment about owning an EV in the future.  Here are the results:

• 64% of respondents indicated a willingness to spend up to R500,000 on an EV.

• Range anxiety declined in 2022, with the respondents being more realistic about range (300km-500km) than in the past. In the survey 37% stated they would consider an EV with a range of 500-700km.

• The number of respondents willing to pay more for an EV upfront fell from 68.2% in 2021 to 64.6% in 2022.

• Charging infrastructure worries declined while the number of people who have driven an EV locally has risen from 12% in 2021, to 15% in 2022. 

• Charging time emerged as the second-most noted disadvantage, increasing from 58% in 2021 to 59%. But 81% want full charging under an hour at a fast charger. Over 70% of respondents with a higher disposable income want EVs to charge at home within four hours.

• Almost all respondents stated they would consider a used EV if they were more affordable, with 79% willing to buy an EV with under 60,000km on the odometer.

• Respondents cited the three most trusted EV brands as BMW, Toyota and Tesla despite the latter not being on sale in SA.

Searches

AutoTrader says in the first half of 2022 EV searches using the fuel-type filter increased by 99.95% year on year, while hybrid searches soared by 129%. EV views rose 133%, with the Audi RS e-tron, Audi e-tron and Porsche Taycan the three most viewed.

Views for hybrids increased 61.28%, with the BMW i8, Toyota Corolla Cross and Ferrari SF90 emerging as the most viewed. Enquiries for EVs rose 74.75%, while hybrid enquiries rose 77.77%.

Despite all the new EV entrants to the local market, pre-owned EVs and hybrids have reduced in supply, suggesting an increased appetite for EVs and that current owners are perhaps hanging on to their EVs. Those that do come onto the used market are quickly snapped up at good prices for the seller.

Demand for EVs is outpacing supply. Used EV stock shrunk 35.91% in the first half of the year compared with the same period in 2021, while hybrid stock decreased by 9.52%, according to the survey.

One of the earlier EV entrants to the local market, the BMW i3, is the most listed EV; 2019 models are priced about R666,000. The second-most listed EV, the Porsche Taycan, lists on average for R3.1m. In the middle price range are EVs like the Jaguar I-Pace and all-electric Volvo XC40, but there aren’t many.