Electric vehicle sales continue to remain strong despite unprecedented challenges

Electric vehicle sales continue to remain strong despite unprecedented challenges 

“July is a typically quiet month in the motor retail sector, and this is reflected in the number of new vehicles being registered. The demand for EVs continues to rise due to a combination of new and exciting models on offer, the increasing cost of petrol and diesel and growing expertise, thanks to schemes like the NFDA’s electric vehicle approved (EVA), amongst retailers.” said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT’s new passenger car registration figures.

In July, a total of 112,162 new cars were registered, a decrease of -9.0% from the same period last year. Sales to private buyers did not significantly alter (0.0% change); fleet registrations were down by -18.2%.

Battery electric vehicles (BEVs) experienced moderate growth, 9.9% to 12,243 units. Plug-in hybrid (PHEVs) registrations declined by -34.0% to 6,533 units, whilst hybrids (HEVs) also reduced by -6.7% to 13,730 units. There are now 127,492 registered BEVs on the road in 2022 compared to the 85,032 at the same point last year, a 49.9% increase.

An NFDA poll of franchised dealers conducted this week indicated that a range of factors were affecting consumer demand for electric vehicles, 80% of members indicated that an increase in the price of petrol and diesel had a strong impact on consumer demand for EV. Members also raised new EV models and greater EV government support as key drivers to demand.

With sales of electric vehicles growing, diesel fell from 8,783 units to 6,210 (-29.3%), and petrol has fallen from 55,250 units to 51,294 units (-7.2%).

Sue Robinson added: “The new car market continues to be stifled by well-documented global supply side issues, our poll supports July’s new car figures, demonstrating that global supply chain remains a consistent threat to the automotive industry returning to normal. Motor retailers are now seeing softening in demand driven by the increasing cost of living, with over 60% of respondents to NFDA’s poll believing that this ongoing crisis is having a severe impact on their business. When polled 73% of our members are dissatisfied with the government’s support towards EV. Franchised dealers continue to support green motorists in finding the right service and financial support plans and as such need government support to facilitate the 2030 ban on the sale of new ICE vehicles.”

*Article Source www.rmif.co.uk/