Did We Just Hit ‘Peak Petrol’?!

The EV Takeover & The End of Petrol Cars?!

It’s happening, or at least, that’s what they’re claiming. According to Auto Trader’s latest report, 2024 marks the year we hit ‘Peak Petrol’—the moment when the number of petrol-powered cars on UK roads reached its all-time high and will now begin its inevitable decline.

How dramatic! How final!

Or is it?

Because let’s face it, we’ve heard this sort of thing before. According to this forecast, there are 18.7 million petrol cars in the UK right now, but by 2034, that figure is expected to tumble down to just 11.1 million. Meanwhile, electric vehicles (EVs) are set to surge from 1.25 million today to a massive 13.7 million in the same timeframe. A complete reversal of power, if you will.

But before we start mourning the internal combustion engine (or dancing on its grave, depending on which side you’re on), let’s take a closer look at what’s really going on. Is this the beginning of the end, or just another premature prediction?

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Why Petrol is Supposedly on the Decline

Auto Trader’s reasoning is simple—EVs are finally becoming affordable and accessible. For the first time, one in three used EVs now costs under £20,000, a 25% jump compared to just last year. And it’s the slightly older, three-to-five-year-old EVs that are changing the game—they’re selling 11 days faster than the average petrol car.

So, is this a sign of a public perception shift? Or are we simply seeing the first real wave of used EV early adopters jumping in at a price they can finally stomach?

Although, there’s something else worth mentioning here—many of these ‘middle-aged’ EVs are likely Teslas. And while Tesla used to dominate the EV space, recent headlines haven’t been kind. Sales have slowed, second-hand values have dropped, and more than a few owners have even admitted to feeling embarrassed to be seen in one. So, if the second-hand EV market is relying on Tesla to carry it forward, that might not be quite as solid a foundation as this report suggests.

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The Simple Truth: Most People Don’t Care About Cars

Now, let’s address the elephant in the room. Car enthusiasts might scoff at EVs, but for the vast majority of drivers, cars are just tools. Most people don’t care about the sound of an engine, the smell of petrol, or the thrill of shifting gears. They just want something that gets them from A to B with as little hassle as possible.

And let’s be real—EVs do that very well. They’re quiet, easy to drive, and packed with tech that modern buyers love. Younger drivers especially are far more open to electric cars than previous generations. Once the charging network improves, and with huge advances in battery technology on the horizon—like solid-state batteries, which could go mainstream by 2027—we could very well see EV sales surge even further.

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New Car Sales: Growth, But Not a Boom

Here’s where things get interesting. New car sales are up 2% for 2025, marking three consecutive years of growth. Sounds positive, right?

Well… sort of.

We’re still 14% below pre-pandemic levels, which means the car market isn’t exactly roaring back to life. EVs are predicted to account for 23% of new car sales in 2025, but that’s still short of the government’s ambitious 28% target. If EV adoption was truly accelerating at breakneck speed, shouldn’t we be seeing higher numbers?

Could it be that people are still hesitant? That despite the industry’s insistence, EVs haven’t quite won over the masses just yet?

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The Used Car Market is Holding Strong

Here’s a twist—used petrol cars aren’t exactly vanishing overnight. In fact, the second-hand market is still growing, with 7.61 million used car sales expected in 2024, rising to 7.7 million in 2025.

If petrol cars were truly on their way out, wouldn’t we be seeing a sharp decline in demand? Instead, they’re still a huge part of the market, and while used EVs are selling faster, they still make up a small slice of overall sales.

So yes, petrol may have peaked, but it’s not disappearing any time soon.

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So, What’s the Truth?

Alright, let’s sum this up:

• Auto Trader says we’ve hit Peak Petrol—18.7 million petrol cars now, but only 11.1 million by 2034.
• EVs are gaining ground, with projections of 13.7 million in the next decade.
• Used EV sales are growing, but mostly Teslas, which might not be as strong a trend as expected.
• Most car buyers prioritise convenience over emotion—EVs tick that box.
• New car sales are rising, but still well below pre-pandemic levels.
• Used petrol cars are still holding strong, suggesting the decline won’t be as quick as some expect.

So, have we truly hit Peak Petrol? Maybe. But I wouldn’t write off the internal combustion engine just yet.

Because let’s be honest—we’ve heard these kinds of forecasts before. A decade ago, we were supposed to be drowning in EVs by now, yet they’ve only just started making a serious impact.

And let’s not forget—since this report came out in December 2024, the global landscape has shifted again. There’s been an officially-led backlash against EVs in the USA, and many major car manufacturers are rethinking their electrification plans.

So, is this ‘Peak Petrol’ moment real, or is it just another overhyped prediction?

Honestly? Only time will tell.

What do you think? Are petrol cars truly past their peak, or is there still some life left in them yet? Drop your thoughts in the comments below! 

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