The latest findings from Roy Morgan show that the demand for environmentally-friendly vehicles is growing at the expense of petrol-powered engines.
While petrol engines remain the most likely choice of new vehicle type (59.1%) this is down 6.3 percentage points compared to a year ago. The number of people intending to buy either a hybrid or electric vehicle rose 4.7 points and 1.6 points respectively over the same period.
Roy Morgan CEO Michele Levine said that “given the increasing focus on environment issues, we can expect those numbers to keep rising.”
If you’re looking to buy a new vehicle this year (be that petrol, diesel, electric or hybrid) don’t pay more than you need to on car finance. While financing a car through the dealership may be more convenient, it often leads to higher rates and fees. As a broker who has over 10 years working in car dealerships (previous life – don’t hold it against me), I work with several lenders that offer low rates for car purchases as well as a car buying service!