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News Item

Fleet business registrations up 23%

May 5, 2021

 

Almost 80,000 new company cars were registered to fleet and business in April as the market continued to show signs of recovery. Fleet and business registrations now account for 56% of the market, with 567,108 cars registered overall.

Overall, April saw total plug-in vehicle market share broadly increase followed the trend seen in recent months, accounting for just over one in eight vehicles, or 13.2%. Unusually, plug-in hybrids (PHEVs), at 6.8% of the market, were more popular than battery electric vehicles (BEVs) at 6.5%, following cuts to the plug-in car grant. Monthly BEV uptake was down compared with Q1 2021 overall, however, as they had been running at 7.5% of total registrations.

“While adoption levels remain in their infancy, it’s encouraging to see the sustained growth of EVs on the UK’s roads, with today’s figures up 566% on this time last year. “Ultimately, the more choice drivers have with longer-range vehicles, the more we’ll be able to truly accelerate along the Road to Zero”. EVs are now expected to account for 8.9% of all registrations by year-end – down from the 9.3% initially forecast in January, in light of March’s changes to the plug-in car grant. With PHEVs anticipated to take a 6.3% market share, total plug-in vehicles should comprise 15.2% of all cars registered in 2021. For the momentum in the EV rollout to continue, it’s essential that the Government takes action to address common barriers to adoption such as access to charging infrastructure. 

The research revealed that UK firms spent £10.5bn on electric vehicles (EVs) and on-site charging points during the year to March 2021 but are now planning £15.8bn of investment in the same area over the next 12 months.

Two-thirds (67%) of all companies polled claimed they are well-prepared to operate a fully electric fleet by 2030. Almost half (46%) of businesses polled plan to install charging points on their premises to facilitate the uptake of EVs across the next twelve months, although more than a third (37%) have already installed this infrastructure. The research also revealed that three in ten firms have already invested in on-site technology capable of generating the energy to charge their fleet of EVs.  

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