Data from the Society of Motor Manufacturers and Traders (SMMT) showed that 343,255 new passenger cars were registered in September, the first month of the new ‘69’ number plates. Although the plate change usually means September is a strong month for sales, that figure represents a 1.3-percent increase on the previous September, which saw a little under 339,000 new cars registered.
Much of that increase was down to rising sales of petrol, electric and hybrid cars, although diesel sales continued to slump. Last month saw sales of diesel vehicles fall by more than 20 percent compared with the same month in 2018.
It’s sales of electric cars that continue to grow rapidly. More than 7,700 electric vehicles were registered last month – more than twice as many as hit the roads last September. It’s impressive growth. Demand for electrified cars has surged in the past four years, with registrations increasing from around 3500 in 2013 to almost 160,000 by the end of 2018.
Electric vehicles still account for a tiny proportion of car sales, but that could soon change, because these upcoming models push the boundaries of performance, range and desirability…..
First Vehicle Finance can also report the same findings with growth in requests for electric car quotes, with a strong increase in the number of quotes requested for electric, hybrid and PHEV models. The Tesla 3 was the third most ordered model during August in the UK, which reflects the growing interest in this new market area and this has been reflected in the types of vehicles quoted on in the last quarter.
Richard Mayle, outlines ‘’The incentives that have been put in place by the Government in terms of Benefit in Kind rates for cars with zero and low emissions has certainly focused the minds of drivers and fleet managers alike.’’
The LCV [Light Commercial Vehicle] market is set to join this trend as new models are now being released in this field. Whether you like it or not, electric vehicles are going to play an increasingly important role in the UK van market as it evolves over the next few years. More and more van makers will be introducing e-vans as a result.
Related: First Vehicle Finance Franchise
Electric vans sales represent a tiny fraction of overall sales right now, but as concern about environmental pollution grows – especially in city centres – businesses and private buyers will come under increasing pressure to adopt e-mobility solutions. But don’t fret too much – electric vans are getting better all the time, and while there are compromises, there are also benefits, too.
As this new market sector develops, First Vehicle Finance are well set to take advantage with their strong range of finance facilities available, such as Business Contract Hire, Finance Lease, Hire Purchase etc and access to full fleet discounts across the manufacturers.
Contact them today to found out more about how you can start a business with First Vehicle Finance and be part of this growing market.