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News Item

Half of drivers want to buy an electrified car - UK car production hits 10-year low in 2019

January 31, 2020

Half of drivers want to buy an electrified car

Almost half of Britain’s used car buyers would buy an electric, hybrid or plug-in hybrid car if they could. That’s according to a new study, which suggests that the desire to buy a petrol or diesel car is diminishing. 

UK car manufacturing in 2019 fell to its lowest levels for almost a decade, down -14.2% to 1.3m units. Production fell for the third consecutive year with the UK and overseas markets down -12.3% and -14.7% respectively. Fleets and company car drivers seeking electric cars face further frustration this year as supply constraints and production delays experienced in 2019 are unlikely to be resolved. Adding to their woes is the fact that many cars being launched are available to pre-order, which presents a barrier for fleets on contract hire agreements. An array of new electric cars will be launched in the coming months, with major carmakers adding new vehicles in various segments. Many of these are subject to retail buyer-focused pre-orders with few units remaining for fleet and leasing companies. Demand for electric vehicles (EVs) from fleets boomed in 2019 after the Government announced plans to reduce benefit-in-kind (BIK) tax rates for zero-emission models to 0% in the 2020/21 tax year (pending ratification in the March Budget).

 

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