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Wagonex sees 340% Increase in EV Demand as Fuel Hits High


Wagonex is based in the Welsh capital of Cardiff, and is growing from strength to strength as an international frontrunner in Car Subscription – widely considered to be the future of vehicle ownership.

  • The average family car now costs over £100 to fill with petrol.
  • Cost of fuel hits a record high in the UK, at 182.3p.
  • Wagonex sees 340% increase in demand for EV Subscriptions.

With petrol and diesel prices reaching record highs, Car Subscription Experts Wagonex sees demand for electric vehicles more than triple in the last month.

Experian Catalist have today reported that the average price of a litre of petrol at UK forecourts reached a record 182.3p, after the biggest jump in prices in 17 years.

It’s unsurprising Wagonex has seen search interest for electric car subscriptions rocketing as motorists across the UK look to swap to electric to save money.

While the platform covers a huge range of vehicles, motorists are primarily showing interest in smaller EVs, such as the Renault Zoe, VW Up!, or BMW i3, all of which are in high demand under subscription.

It’s not just small EVs which are in the spotlight. Some of Wagonex’s most popular models are The Tesla Model 3, Model Y, and the Audi Q4, with the average subscription lasting about a year.

Toby Kernon, CEO & Founder of Wagonex comments,

Our subscribers are driving their favourite EVs without the long-term commitment. With fuel prices expected to continue to rise, we expect EV demand to outstrip ‘ICE’ vehicles by the end of 2022.

John Lewis, Head of Product Strategy and Development at Volkswagen Financial Services UK, added:

The way that people are using cars is fast evolving and we need to make sure that, as our customers continue to engage more with digital technology, we make their online journey as simple and as convenient as possible. Our partnership with Wagonex underlines our commitment to putting the customer at the heart of everything we do as it’ll give customers more choice, flexibility and control.