A study by automotive experts at Leasing Options has revealed the European countries offering the most monetary incentives to switch to EVs and compared the increase and decrease in sales compared to the years these incentives were in place
The government argument behind delaying the deadline was that it would give consumers more time to electrify and potentially reduce the cost of doing so. For the vast majority of people though, it just doesn’t seem to have made any difference to their preferences.
In 2022, the amount was halved by the government to £1,500. BEV sales still increased but by only 40.1%. Currently, in 2023, there is no purchase scheme available. This has dropped the projected uptake to an increase of only 14.5% according to half-year sales figures – the lowest in four years.
Battery electric vehicles (BEVs) recorded their 41st consecutive month of growth – with 45,323 drivers making the switch, an 18.9% uplift. Given this growth was less than the overall recorded by the market, however, BEV market share slipped back slightly to 16.6% from 16.9% a year ago.
The region with the highest increase in hybrid electric vehicles is Northern Ireland, with a 133% increase in ownership. England is the region with the lowest increase in hybrid electric vehicles, having only a 78% increase over the last three years.
Despite being affected by supply constraints on wiring looms due to the global chip shortage and issues relating to the war in Ukraine, electric car registrations in 2022 increased by 21% from the previous year. Annual growth rates of around 30% are expected to continue for the next two years
During Q4 2022, the ratio of new chargepoint installations to new plug-in car registrations dropped to one for every 62 – a significant fall compared with the same quarter last year, when the ratio was 1:42. As a result, in 2022, one standard public charger was installed for every 53 new plug-in cars registered, the weakest ratio since 2020.
Auto Trader said that the fall in demand for EVs coincides with rising energy prices, petrol and diesel prices softening, and concerns about Government policy over EVs. Chancellor Jeremy Hunt announced last month that new zero-emission cars will no longer be exempt from vehicle excise duty from April 2025.
