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Alternative Fuel Vehicles (AFV) are now more popular than petrol and diesel vehicles, according to more than 3 in 5 (62%) dealers stocking AFVs.
The research, from Close Brothers Motor Finance, found that two-thirds of dealers stocking AFVs also confirmed they are selling more now compared to two years ago, pointing to growing demand as we approach a ban on new petrol and diesel vehicles by 2030.
However, despite these positive signs, more than half (54%) of dealers stocking AFVs say they make up a fraction of their stock.
With the 2030 deadline fast approaching, 68% say they need to make changes before it’s too late, and more than two-thirds (67%) admit they should start saving on AFV.
Research shows that this will bring advantages for dealers, with 64% stating that the AFV is more profitable than petrol and diesel vehicles.
More than half (60%) also confirmed that switching to AFV was easier than they expected.
Lisa Watson, director of sales at Close Brothers Motor Finance, said: “With the 2030 deadline, there is clear movement among dealers to accommodate AFVs on the front page. Dealers are reporting demand, and SMMT’s recent new registration data shows some promising signs, with Hybrid Electric Vehicles (HEV) up 40% over last year, and battery electric vehicles (BEV) rising 18.2% year-over-year ) registration.
“This means that dealers still using petrol and diesel models will have to start seriously considering their stock level AFVs as adoption widens. As well as ensuring dealers are in the best position to manage the transition ahead of the 2030 deadline, transitions can also bring economic benefits to dealers, as they have for those already selling AFVs.”
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