Electric cars take off *

According to the Society of Motor Manufacturers & Traders (SMMT) electric cars represented nearly 10% of the market in January.

The month saw 115,087 new cars registered as 2022 kicked in 25% up on January 2021 when lockdown restrictions kept showrooms shut.  With 13,492 hybrids also registered, almost one in three new cars joining British roads in January was electrified.

The growth was driven by private buyers, as manufacturers sought to prioritise these customers given the supply constraints, with this segment of the market registering 62,300 new cars, up 64.1%, year on year – and just -5.6% off pre-pandemic levels.  Large fleet registrations, meanwhile, remained broadly flat with last year at 50,817 units (down -0.4%).

However, the market remains well below pre-pandemic levels, -22.9% lower than in January 2020, as chip shortages in particular continue to impact supply.

There are now more than 140 plug-in car models available to UK buyers, with almost 50 more scheduled for release in 2022.

One of the obstacles remains perceptions of a lack of charging infrastructure, which must be built ahead of demand – and that demand is increasing exponentially.

www.smmt.co.uk

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