Trade Me reports spike in EV searches

Rising petrol prices are driving renewed interest in electric vehicles, with new data from Trade Me showing a sharp spike in EV searches as pump prices climb above $3 a litre.

Searches for electric vehicles on the platform jumped 142% in the first half of March compared with the same period in February, increasing from more than 50,000 searches to nearly 125,000.

The figures suggest a strong link between higher fuel costs and consumer behaviour, with motorists reassessing their vehicle choices as running costs increase.

Trade Me head of motors Brendan Hall says the surge marks a notable turnaround in EV interest following a slowdown after the end of the Clean Car Scheme.

“We saw EV searches peak at 111,000 in October 2023 as buyers rushed to take advantage of the rebate before it disappeared,” Hall says.

“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 Kiwi drivers seriously considering whether an electric model would suit their needs.”

Trade Me’s data shows the average EV listing price sits at around $39,000, with the Nissan Leaf and Hyundai Kona among the most searched models.

Chinese brands are also gaining traction, with BYD, Zeekr and Dongfeng identified as the fastest-growing marques on the platform.

Hall says interest spans a wide range of price points, from entry-level vehicles through to premium models.

“It’s clear the interest covers a whole range of electric vehicles on site. For example, a 2015 Tesla Model S recently became our most viewed and watchlisted EV, showing the aspirational end of the market is strong,” he says.

“At the same time, there is currently a 2013 Nissan Leaf with an asking price of $2,500, so there really is something for everybody.”