Friday 8 January 2016

UK sees growing demand for EVs

UK sees growing demand for EVs

Demand for plug-in and electric vehicles (EVs) is rising, according to new data.

The Society of Motor Manufacturers and Traders (SMMT) revealed plug-in hybrids experienced “phenomenal growth, with volumes more than doubling” and EVs saw an increase of around 50% last year.

More than 47,600 new green cars have so far been registered since the launch of the government’s Plug-In Car Grant scheme, which offers £5,000 off the cost of a vehicle, in January 2011.

The number of new cars eligible for the scheme grew from 14,532 in 2014 to more than 28,000 last year, a 94% increase.

Demand for alternatively-fuelled vehicles (AFV) grew 40.3%, securing the biggest ever market share of 2.8% for a year.

Overall, it was a record year for new car registrations in the country as they beat 2.6 million units for the first time.

Mike Hawes, SMMT CEO said: “The new car market defied expectations in 2015, hitting an all-time record driven by strong consumer and business confidence. Buyers took advantage of attractive finance deals and low inflation to secure some of the most innovative, high tech and fuel efficient vehicles ever produced. The past four years have seen a remarkable period of sustained growth and the outlook remains positive with every reason to expect the market to hold broadly steady in 2016.”

Written by

Bruna Pinhoni

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