One new electric car registered every 60 seconds with calls for further incentives to help switch
One new electric car is registered every 60 seconds
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One new electric vehicle is being registered every 60 seconds in the UK, with new data showing strong interest in the zero emission vehicles.
The new car market also grew by 28.3 per cent in July with 143,921 new vehicles registered, the latest data from the Society of Motor Manufacturers and Traders has shown.
The UK has now enjoyed “non-stop growth” for 12 months, despite the cost of living crisis, lingering effects from the pandemic and other economic difficulties.
Electric vehicles made up more than a third of the total car market, with hybrids also seeing growth.
The UK car market has reported large sales in recent months
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The SMMT is forecasting that one new EV will be registered every 50 seconds by the end of the year, and up to one every 40 seconds by the end of 2024.
Despite this, experts are suggesting that this pace needs to quicken to ensure the UK meets lofty net zero targets and prepares for the 2030 ban on the sale of new petrol and diesel vehicles.
Mike Hawes, chief executive of the SMMT, said: “Choice and innovation in the market are growing, so it’s encouraging to see more people switching on to the benefits of driving electric.
“With inflation, rising costs of living and a zero emission vehicle mandate that will dictate the market coming next year, however, consumers must be given every possible incentive to buy.
“Government must pull every lever, therefore, to make buying, running and, especially, charging an EV affordable and practical for every driver in every part of the country.”
July also signalled a huge boost for the number of public chargers around the UK, with there being a 40 per cent increase in the total number of chargers since July 2022.
It is estimated that the UK would need around 300,000 charging points by the end of 2030 to deal with the demand for charging from the growing number of EVs.
To meet this level, the installation rate would need to treble to almost 10,000 chargers per quarter, every quarter, until the end of the decade.
Ginny Buckley, founder and CEO of Electrifying.com, praised today’s announcement of strong EV interest, but highlighted how registrations are being led by fleets and businesses.
She added: “This continues to prove that a lack of financial incentives and confidence in our public charging infrastructure is doing little to help private buyers on their electric journey.
“Now more than ever, we need to be encouraging people to make the switch. This can be done not only by improving our public infrastructure, but also by introducing incentives, particularly for used electric cars.
“The used market will be key to us hitting our net zero targets in the coming years, which is why I would like to see the introduction of a subsidised used car loan to help consumers go electric.
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Some experts are calling for more incentives to be introduced
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“Similar to the one already in place in Scotland, this will help to stimulate demand and even make finance on new cars more affordable by improving residual values.”