Boom in electric searches
Trade Me is reporting a spike of 142 per cent in searches for EVs so far in March compared with the same period last month as petrol prices surge past $3 per litre.
Its data shows a jump from more than 50,000 searches in the first half of February to nearly 125,000 in the first half of this month, showing a link between fuel costs and buying interest in driving electric.
Brendan Hall, pictured, head of motors at Trade Me, says the end of the government's clean car discount in December 2023 created a huge spike in demand previously.
“We saw EV searches peak at 111,000 in October 2023 as buyers rushed to take advantage of the rebate before it disappeared,” he adds. “As expected, interest cooled considerably after it ended with searches declining in the beginning of 2024.
“The latest interest marks a significant turnaround, showing that while the rebate was a strong motivator, the current pressure of fuel prices has Kiwis seriously considering whether an electric model would suit their needs.”
The average EV listing price on Trade Me is around $39,000, the most-searched models are the Nissan Leaf and Hyundai Kona, and the fastest-growing brands are BYD, Zeekr and Dongfeng.
Hall says: “Interest covers a whole range of EVs. For example, a 2015 Tesla Model S recently became our most viewed and watch-listed EV, showing the aspirational end of the market is strong. At the same time, there’s a 2013 Leaf with an asking price of $2,500 so there really is something for everybody.”
