Insight: UK EV retail market not ‘dead’ says Kia CEO
The UK market for consumer buyers of electric vehicles (EVs) is not dead, according to the head of Kia UK.
The UK market for consumer buyers of electric vehicles (EVs) is not dead, according to the head of Kia UK.
Volumes in each month of the quarter rose, with the strongest gain in September, up 6.3%, which helped the market deliver the best Q3 performance since 2021. Reflecting an increase in supply, demand for battery electric vehicles (BEVs) doubled in the quarter, reaching a record market share as volumes rose by 99.9% to 34,021 units.
Under the new legislation more than a fifth (22%) of new cars sold by each carmaker must be fully electric in 2024, with the quota rising each year to meet the government’s target of 100% by 2035. Under the rules manufacturers face a £15,000 fine for each non-compliant vehicle they sell over the quota.
Albert Parnell’s appointment represents another investment in buyer engagement from the group, following the introduction of Buyer Executives at each site. He will be on site for every EV sale, ready to support buyers with any questions they, or their customers, may have.
eBay's latest Consumer Insight Panel study, conducted immediately after last week’s announcement and polling the views of 2,004 car buyers, found 40% currently searching, or planning to buy an electric vehicle within the next six months will now either delay purchasing, buy an ICE car instead or transition when forced to.
New research commissioned by car-sharing club Zipcar reveals that whilst there has been a significant increase in the use of electric vehicles in the UK, many motorists still felt unsure around many ways in which the cars could be driven. In a poll surveying 2,000 people across the UK who had never driven an EV before, it emerged that 48% [...]
Andrew Leech, founder and managing director of Tamworth-based salary sacrifice and fleet management specialist, Fleet Evolution, says car retailers are in a unique position to better educate new and prospective buyers about EVs, but many are failing to meet their responsibilities.
May’s Startline Used Car Tracker reports that 41% say their lenders are less keen to finance EVs, 10% want higher deposits from buyers and 5% charge higher interest rates. A further 5% say their lenders simply won’t touch EVs at all.
Polestar was established in 2017 as a new, standalone Swedish premium electric vehicle manufacturer. Founded by Volvo Cars and China’s Geely Holding, it enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.
When it comes to EV adoption, there is a direct link between easy availability of charging and the overall likelihood that consumers will make the switch to electrification. These are decisions that tend to be made on a local basis. Motorists can see whether chargers in their area are around in large numbers and make an assessment about how easy it is likely to be to use an EV.