British drivers reportedly purchased more electric vehicles in March of 2022 than they did in the entirety of 2019, despite a market downturn, as per numbers that highlight Britain's expediting shift away from internal combustion engines.
As per the Society of Motor Manufacturers and Traders (SMMT), a lobbying organization, there were 39,315 registrations for new battery-electric cars during the month of March. In comparison, there were 37,850 electric vehicle sales in 2019.
Evidence of growing demands for battery electric vehicles – which, as per some experts, will turn out to be the most common fuel type as soon as 2025 – has given the automotive sector a bright spot at a time where it has been besieged by years-long semiconductor supply shortages.
Despite the fact, the total number of fuel and electric car sales recorded in March across the UK was the lowest for the month in over 24 years.
March is a crucial month for the British car market since it is when customers line up for the newest number plates, which serve as a status symbol while also helping to keep secondhand values stable for a few more months.
The drop in the latest car registrations, which is down 14% from March 2021, comes after two months of year-over-year sales improvements.
The automobile industry is particularly concerned that it has lost out on a period of robust demand, which was bolstered by home savings amidst pandemic shutdowns, and that it will face pressure as household budgets are strained further by increasing prices fueled by inflation.
It comes as the cost of diesel and gas keeps hitting to new highs following Russia's invasion of Ukraine.
On the other hand, as the number of electric vehicles on the road grows, so will the demand for electric charging stations.
The Resolution Foundation issued a warning in February that more than 10 million UK houses lack a personal garage or off-street parking, and hence would be unable to benefit from decreased costs associated with charging automobiles using cost-effective overnight electricity.
Source credit: https://www.theguardian.com/business/2022/apr/05/uk-car-sales-chip-shortages-electric-cars-petrol-diesel-prices
