Why Electric Cars Sales Have Increased – What This Means for the Industry

Are you noticing more electric cars on the road? These used to be a rare sight, but in the last 3-or-4-years sales have exploded and many motorists are now making the switch. In fact, 2021 was the most successful year for EVs to date with more vehicles registered in this year alone than over the 5 previous years combined (despite COVID-19). 27.5% of the market is now electrified in some way and this will only continue in the coming years.

 

Why Electric Car Sales Are Increasing

So, what are the reasons for motorists making the switch? One of the main reasons is that people are looking to become more energy-efficient, which allows people to reduce their impact while also saving money (in a time when the cost of living is rising). In addition to this, the 2030 ban on the sale of petrol and diesel is another major factor, prompting manufacturers to release more of their own electric vehicle lines.

Many people are also making the change now because there are so many different types of electric cars available, and the battery technology has improved so much. Additionally, with the constantly increasing number of charging points and their improving accessibility, electric vehicle range anxieties are much less of an issue.

Another reason that people are switching is that electric cars are now becoming trendy and desirable, especially thanks to brands like Tesla. Tesla has been pioneering in the field with its futuristic, impressive and attractive electric vehicles that are appealing to many motorists and creating a buzz in the auto industry.

 

What Does This Mean for Car Buyers?

So, what does this shift mean for car buyers? Since these vehicles have not been mainstream for long, it means that they are expensive to buy and often around £10,000 more expensive than a traditional car. As a result, more and more motorists are getting car loans as a way to help manage the cost of the vehicle.

 

Evolving Used Car Market

Additionally, with many electric cars now a few years old, they are just starting to appear in the used car market with the original buyer looking to upgrade to a modern model. This will continue in the coming years as the market grows, which will make it easier and more affordable for motorists to make the switch to an electric.

The electric car revolution is accelerating and they are now a common sight on the roads. There are many benefits and reasons why so many motorists are switching, especially in a time when people are looking to reduce their impact and save money, petrol price is increasing and EV charging points are outnumbering petrol stations. Additionally, there are now many models available with a growing number of car brands focusing on electric vehicles and the technology and infrastructure continues to improve. As more vehicles reach the used car market, more and more motorists will be looking to make the change.

Stewart Thurlow

Stewart Thurlow

I once shared a lift with Meryl Streep & Julianne Moore. Oh, & Victoria Beckham smiled at me. UK Editor for ADDICTED.
Stewart Thurlow

@stewartthurlow

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