Adevinta — Environmental & Social Information 2023

Nov 16, 2023

European EV listings gain momentum, but high price tags stifle demand, Adevinta finds

European EV listings gain momentum, but high price tags stifle demand, Adevinta finds

* EV listings on Adevinta's European mobility marketplaces increase by 94%

year on year in H1 2023

* 35% would consider buying a second-hand EV for their next car

* But for 56% of European consumers, high prices are still a key barrier to

adoption

16 November 2023: Consumer interest in electric vehicles (EVs) is accelerating

as a new wave of supply hits European markets, yet high prices continue to stand

in the way of widespread adoption. That's according to new research and platform

data from Adevinta, the leading online classifieds group whose European mobility

marketplaces include mobile.de, coches.net, leboncoin, Subito and Marktplaats.

In the first six months of 2023, the number of EV listings on Adevinta's key

mobility marketplaces* across five European markets saw a 94% increase year on

year, indicating a significant rise in the availability of both new and used

models.

According to a new survey of over 5,000 European** consumers commissioned by

Adevinta, appetite for more sustainable vehicles is rising. Of those looking for

a new vehicle in the next twelve months, 40% stated that they would choose an EV

or hybrid car, while 37% are more likely to consider purchasing an EV now than

they were 12 months ago. But in the same period, the volume of searches for EVs

dropped by 6% when compared with the previous year indicating that demand is

failing to keep pace with supply.

Despite evidence of growing interest, for many consumers, EVs continue to be too

expensive when compared to their petrol and diesel counterparts. More than half

of those surveyed (56%), high price tags are the main barrier preventing them

from buying an EV.

Ajay Bhatia, Head of Adevinta's global mobility portfolio and CEO of mobile.de

(http://mobile.de), commented: "The increase in EV supply is encouraging, but

it's clear that for many consumers in Europe high prices and uncertainty about

range, charging infrastructure as well as residual value are preventing them

from switching to electric. For most people, buying a car is the second biggest

purchase they'll make in their life, and car manufacturers, dealers, and

Adevinta's marketplaces can support consumers by helping them better understand

the finance and ownership models that can make EV adoption more affordable."

With price a key pressure point, it's not surprising that more than a third

(35%) of European consumers would consider purchasing a second-hand EV for their

next car. Adevinta's platform data*** showed the average price of a used EV in

H1 2023 was 28% cheaper than a new EV.

Consumers also cite the inability to travel long distances on a single charge

(39%), and the lack of fast charging infrastructure (35%) as key barriers to

further EV adoption. For just over 1 in 5 consumers (23%), skepticism around the

environmental benefits of EVs stands as a deterrent.

Bhatia added: "Consumers across Europe are looking to make more sustainable

choices, and second-hand EVs have an important role to play in the transition to

greener forms of mobility. But there remains a job to do to alleviate concerns

around perceived barriers that are preventing the switch to electric vehicles.

Addressing these challenges hinges upon educating consumers, and providing

accurate and accessible information specific to EVs to help them make

sustainable choices that fit their budget and lifestyle."

ENDS

* Data analysed from: mobile.de, leboncoin, Subito.it, coches.net, Marktplaats

** European consumers surveyed from Germany, Spain, France, Italy and Benelux

*** Data analysed from: Mobile.de, leboncoin, Subito, Marktplaats

For more information, contact:

firstlight group

adevinta@firstlightgroup.io (mailto:adevinta@firstlightgroup.io)

+44 (0)20 3617 7240

Methodology

5323 nationally representative adult respondents across Germany, Spain, France,

Italy and Benelux were surveyed online between 9th and 12th October 2023.

Research was commissioned by Adevinta and conducted by market research

consultancy Censuswide.

Listings and search data is from five of Adevinta's European marketplaces:

mobile.de (Germany), Leboncoin (France), Subito.it (Italy), coches.net (Spain),

Marktplaats (Netherlands).

Pricing data is from four of Adevinta's European marketplaces: mobile.de

(Germany), leboncoin (France), Subito.it (Italy), Marktplaats (Netherlands).

About Adevinta

Adevinta is a leading online classifieds group and champion for sustainable

commerce with a focus on Europe.

Our portfolio of 25+ digital marketplaces spans consumer goods, mobility, real

estate, holiday rentals and jobs. Every month, our industry-leading technology

enables more than 120 million people and over a million businesses across Europe

to connect and trade. Loved local brands include leboncoin in France; mobile.de

and Kleinanzeigen in Germany; Fotocasa and InfoJobs in Spain, Subito in Italy;

Marktplaats in the Netherlands and the Canadian marketplace Kijiji.

Our international team of diverse individuals are united in their purpose to

make a positive impact on the environment, the economy and society every single

day.

To find out more, visit Adevinta.com.