Analysis of consumer behaviour on the Carwow platform in Q3 2024 indicates that configurations for new battery electric vehicles (BEVs) increased by 30% year-on-year, to almost 271,000. Plug-in hybrid electric vehicle (PHEV) configurations increased by 15% to more than 250,000 over the same period. Petrol and diesel configurations, meanwhile, were down 8% and 11%, to 536,000 and 75,000, respectively.
Last quarter saw another sharp increase in the new and used car enquiries generated by consumers on Carwow, with the company reporting a 29% year-on-year increase in the volume of leads sent to its retail partners. New car enquiries specifically were up 27% in Q3, accelerated by Carwow’s September plate-change campaign. Used car enquiries, meanwhile, were also up 34% year-on-year.
The most popular new BEV on Carwow in Q3 was the Tesla Model Y, followed by the MG 4 and Tesla Model 3. The Volvo EX30 and Polestar 2 rounded off the top five.
Carwow data reveals an increase in consumers choosing PCP and leasing as their preferred payment methods, with PCP configurations up 5% year-on-year to more than 328,000, and leasing rising 18% to over 206,000.
Configurations of vehicles with an automatic transmission rose by up 12% year-on-year, with nearly one million configurations in Q3. By contrast, manual configurations were down 24% to just under 200,000.
Brown and orange body colours saw an increase in new car configurations in Q3, up 17% and 16% year-on-year respectively, while green configurations were also up 12%. However, grey and back remained the most popular, both with almost 105,000 configurations. The most popular price bracket for new-car configurations in Q3 was the £30,000-to-£40,000 range, at almost 400,000 configurations; a 10% year-on-year increase.
Philipp Sayler von Amende, Chief Commercial Officer at Carwow, said: “The return of new car supply combined with a challenging macroeconomic backdrop has led to increased advertising spend from brands to help drive retail demand, particularly for EVs. It's encouraging to see increases in configurations and enquiries for both new and used cars on our platform, especially the huge surge in interest for some BEVs.
“With new entrants adding increased investment into the UK market, we’re seeing legacy brands investing even more to protect market share, stepping up their collaborations with Carwow to help drive enquiries.”
