Electric vehicle (EV) sales fell 34.2 percent in the final month of 2023 due to weakening demand, according to a leading auto industry association.
Despite 1.9 million new cars being registered in 2023, data from the Society of Motor Manufacturers and Traders (SMMT) shows fewer people were looking for electric alternatives to diesel and petrol cars.
SMMT attributed this to an “abnormal” December 2022, which saw sales rise by 38.7 percent as companies chose the last month of the year to invest in large fleets.
The report says incentives are needed to increase sales of electric vehicles. So what can you do to increase your sales?
Reduce VAT on electric vehicles
The VAT cut, SMMT said, would boost demand by reducing prices by an average of around £4,000 and would be equivalent to giving fleets tax breaks to buy new electric vehicles.
If you are currently buying or leasing an electric car for personal use, you will be subject to 20 per cent VAT and cannot claim it back.
The reduction will see approximately 250,000 additional new battery electric vehicles on the roads over three years, according to the SMMT.
Re-introduction of the funding scheme
Just one in eleven private consumers in the UK who bought a new car last year chose an electric model.
This could be the result of the government abandoning a scheme that allowed buyers of new electric vehicles to claim subsidies of up to £1,500 each. It was removed in June 2022.
SMMT chief executive Mike Hawes said the UK’s market share for these cars was “probably in the bottom half of Europe” and lower than countries such as France, Germany, Ireland and Portugal.
Mr Hawes said: “The Government has challenged the UK car sector with the world’s boldest transition timetable and is investing to ensure we are a major manufacturer of electric vehicles.”
“This should now help all drivers meet this future with consumer incentives that will make the UK the leading European market for ZEVs (zero emission vehicles).”
More chargers
The fear of not being able to find a charging station has led to many drivers suffering from “range anxiety” when using their electric vehicles. This is believed to be a deciding factor when choosing fossil fuel vehicles.
There are 49,220 public electric vehicle charging points in the UK, according to the Department for Transport. Of these, 8908 units had a power of 50 kW or more.
The number of charging stations has increased by 46 per cent since November 2022, but earlier this week the RAC said the Department for Transport had not met its target of at least six fast or ultra-fast chargers of more than 50kW per year. motorway service station in England until the end of 2023.
Four locations had no charging options at all, according to the RAC.
Improving coverage and costs
Driving an electric car will become more expensive from April next year when electric car drivers will have to pay road tax.
However, the range of electric cars varies from 160 to 650 kilometers on a single battery charge.
The more expensive the electric car, the longer the charging time. The BMW i4 eDrive40 has a range of 365 miles on a single charge, but buying new will cost drivers £50,000.
The Tesla Model S can travel more than 400 miles on a single charge, but costs £90,000.
BYD, which rivals Tesla as the world’s largest seller of electric vehicles, offers 30,000-pound models with a 200-mile range.
Source: I News
I’m Jeffery Bryant, and I’m an experienced author specializing in automobile news. For the past several years, I have been working as a writer in a well-known news website. During this time, I’ve written hundreds of articles covering automotive trends and developments both nationally and internationally.