NEW analysis by Central Contracts has revealed a significant demographic divide in the UK’s attitude to greener driving.
The data suggests that while the nation is moving away from traditional fossil fuels, a ‘Hybrid Bridge’ has emerged, with women and retirees leading a preference for hybrid technology over fully electric vehicles (EVs).
The findings from Central Contracts, which trades as LeaseCar.uk, also highlight a distinct difference in how men and women approach electrification. While 22% of both men and women are now choosing hybrids, female drivers remain significantly more hesitant to go “fully” electric.
Women prefer hybrids to EVs
Female drivers are twice as likely to lease a hybrid (22%) as a fully electric vehicle (11%), according to the data from Central Contracts, while male drivers show a higher confidence in EV technology, with an adoption rate of 16%.
Despite the green push, petrol remains the dominant choice, powering 62% of cars leased by women and 50% by men.
Grey pound spent on hybrid technology
Contrary to the stereotype of older drivers being resistant to change, the car choice data from the Stoke-based leasing broker shows that retirees (65+) are the UK’s biggest adopters of hybrid technology.
A staggering 32% of retirees opted for a hybrid, the highest percentage of any age group and while retirees love hybrids, full EV adoption drops to just 8% in this age bracket, suggesting a preference for the safety net of a dual-fuel engine.
London leads the way with drivers choosing EVs
Geography continues to play a massive role in fuel choice, largely dictated by local infrastructure and emission zones. London leads the country in green adoption with 21% EV and 25% Hybrid adoption, likely accelerated by ULEZ regulations.
The North & Midlands – counties like Staffordshire and Cheshire – show much higher diesel vehicle retention than their southern counterparts, reflecting the needs of long-distance commuters and a slower rollout of rural charging points.
While environmental awareness is high among young people, the data suggests that financial barriers remain a hurdle, with drivers under 30 accounting for less than 8% of personal leasing orders.
For those who use PCH, 80% stick to petrol, likely seeking lower monthly payments and insurance costs than with more expensive EV models.
Gareth Roberts, Strategy Director at Central Contracts, commented: “Our data clearly shows that the transition to electric isn’t a one-size-fits-all journey.
“Women and older people are opting for a middle ground, with a 2-to-1 preference for hybrids over EVs among women, suggesting that range anxiety and charging infrastructure are still significant hurdles.
“However, the high volume of retirees successfully leasing cars proves that the ‘Grey Pound’ is a powerhouse in the automotive market, with lenders showing great confidence in funding the older demographics.”
The data showing the preference for hybrids from women and retirees is from Central Contracts, which recently was named fourth largest leasing broker in the recent Broker News BN25 league table of the largest leasing brokers in the UK.
Photo by Leiada Krözjhen on Unsplash
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
