Used EV interest grows 

The balance between value and confidence is also shifting. Fewer EV intenders will only consider new vehicles, with over half now open to both new and used. The market is changing in practice too, with almost one in five EV owners having purchased used.  

As more used EVs enter circulation, confidence becomes a key part of the decision. Afterall with two thirds of respondents preferring to buy an EV through a dealership, there’s a clear opportunity to leverage that insight. The takeaway here is that clear information about common buyer pain points like battery health, expected longevity and past usage will help more buyers feel ready to take the next step, and position your dealership as a trusted parter rather than a necessary step in the buyer journey.  

Buyers narrow their brand shortlists 

It’s hard to ignore the influx of new brands into the market. As a result of this, choice is broadening, but as the segment matures, buyers are becoming more selective. EV intenders now consider an average of 2.8 brands, down from 3.2 in the previous wave. For OEMs, this sharper focus highlights the importance of early visibility, as brands that appear too late risk being left out of the comparison process entirely. 

On that note, brand momentum is also shifting. Not only has BYD surpassed Tesla as the biggest manufacturer of EVs globally, but it also continues to grow in both unprompted and prompted awareness locally. Several factors feed into this, but ithis reinforces how important consistent presence and clear product storytelling have become as buyers grow more selective and refine their shortlists. Barriers shift toward practicality