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UK Demand For Electric Cars Soars Despite COVID Crisis

Courtesy of ZeroHedge View original post here.

Reacting to the latest new UK car registration figures from SMMT today, Chief Executive Mike Hawes said:

"2020 will be seen as a ‘lost year’ for automotive, with the sector under pandemic-enforced shutdown for much of the year and uncertainty over future trading conditions taking their toll."

Despite the clear crisis the Covid-19 pandemic has caused for the industry, Statista's Martin Armstrong notes that there are certain types of car which are still seeing growing demand.

Infographic: UK demand for electric cars growing despite Covid crisis | Statista

You will find more infographics at Statista

As this infographic shows, although there are still far more petrol and diesel cars being sold, demand has shrunk by 39 and 55 percent compared to 2019, respectively.

Cars powered to some degree by electricity have weathered the pandemic storm, posting growth of 186 percent for vehicles powered solely by batteries, 91 percent for plug-in-hybrids and 12 percent for hybrids.

On this point, Hawes added:

"With manufacturers bringing record numbers of electrified vehicles to market over the coming months, we will work with government to encourage drivers to make the switch, while promoting investment in our globally-renowned manufacturing base – recharging the market, industry and economy."


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