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More plug-in vehicles were registered in March than ever before, the latest figures from the Society of Motor Manufacturers and Traders (SMMT) show.
In total 17,330 plug-in hybrid (PHEVs) were registered during the month which represents a year-on-year increase of more than 152 per cent. The market share of this type of vehicle was 6.1 per cent compared to 2.7 per cent in March 2020.
Additionally there was a more than 88 per cent increase in registrations of battery electric vehicles (BEVs), with 22,003 in total.
BEVs and PHEVs took a combined market share of 14 per cent, up from just over 7 per cent per cent last year as the number of models available to customers increased from 72 to 116.
Meanwhile hybrid Electric Vehicles (HEVs) also rose 42 per cent to reach 21,599 registrations.
Mike Hawes, SMMT chief executive, said the past year had been the “toughest in modern history” and the automotive sector had been hit hard. Despite this, Hawes said there was optimism that consumer confidence will return.
He added: “We know we will see record breaking growth next month given April 2020 was a washout, but a strong, sustainable market is possible if customers respond to the choice and competitive offers the industry provides within the safest of showroom environments.
“New plug-in models are already helping drive a recovery but to convince more retail consumers to make the switch, they must be assured these new technologies will be convenient for their driving needs and that means, above all, that the charging infrastructure is there where they need it, and when they need it.”
Lucy Simpson, head of EV enablement at Centrica Business Solutions, said while the figures were promising a lack of charging infrastructure is a “well-documented barrier” to uptake that needs “urgent attention”.
She added: “As the country builds back from coronavirus, financial incentives that encourage mainstream EV adoption and accelerate the rollout of charging infrastructure must remain a key priority for policymakers.
“Adequate availability of charging points in homes, workplaces and public places will be crucial to the success of the government’s levelling-up agenda, and we must ensure charge point inaccessibility doesn’t stall the good progress being made to electrify the UK’s vehicles – a vital component of the Road to Zero strategy.”
Electric Dreams
Elsewhere in the sector Octopus Electric Vehicles has today (7 April) announced the launch of a new leasing service called Electric Dreams which offers a salary sacrifice scheme to employees looking to lease EVs.
Electric Dreams, which is open to businesses of any size, currently has 15 companies signed up including Huel and Purplebricks.
The company says the scheme is made possible due to the low benefit in kind (BiK) tax rates on electric cars which is 1 per cent for the current tax year and 2 per cent for the three years following.
Octopus experts will be available to participating employees to help them choose their cars and get set up with charge points and EV energy tariffs; as well as support the business with scheme documents, approvals and payroll.
Meanwhile partners including Close Brothers and Lloyd Latchford will provide Octopus with financing and insurance services respectively.
Fiona Howarth, chief executive of Octopus Electric Vehicles, said: “Businesses and employees across the UK are searching for ways to do their bit for the environment.
“We have seen a seven-fold jump in salary sacrifice enquiries in the last year. If businesses in the UK introduce a scheme like this, they have the power to significantly reduce transport emissions across the UK by 2030.”
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