On January 9, 2024, in London, England, the battery of an electric vehicle was charged at a roadside charging station.
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The UK is expected to reach “peak petrol” in 2024, with electric vehicles (EVs) expected to take a larger share of the country’s car market, according to a new report.
The number of petrol cars on UK roads is expected to fall by almost half over the next decade as driving shifts to electric vehicles, Auto Trader said in an analysis published on Wednesday.
The online car platform estimates that there will be 18.7 million gasoline-powered cars on China’s roads by 2024, though this number is expected to steadily decline to 11.1 million by 2034.
At the same time, the number of electric vehicles on UK roads is expected to surge from 1.25 million in 2024 to 13.7 million over the next decade as affordability improves.
Auto Trader said it expected electric vehicles’ share of the new car market to rise from around 18% this year to 23% in 2025, noting that this would still be well below the UK government’s 28% sales target. zero emission vehicles (ZEV) authorization.
Ian Plummer, commercial director at Auto Trader, said in the report: “Peak petrol is a real milestone for the UK.”
He added: “We expect the UK automotive industry to change dramatically over the next decade, with the number of petrol cars nearly halved and the share of electric vehicles increasing significantly.”
“All of this is happening against the backdrop of exceptionally strong demand for used cars, despite The industry faces a range of challengesespecially the introduction of ZEV targets, supply restrictions, changing financial rules,as well as Budget,” Plummer said.
ZEV command
Under current regulations, manufacturers must ensure that at least 22% of new cars sold are zero-emission vehicles. This ZEV target will increase to 28% from next year, to 80% by 2030, and to 100% by 2035.
British centre-left Labor government face phone call Due to the relatively high cost of electric vehicles and their weak demand, urgent consideration is given to reviewing the ZEV directive.
The Society of Motor Manufacturers and Traders is a car lobby group, warn Government targets late last month put too much pressure on the industry, raising the possibility of a “devastating impact” on business viability and employment.
Last week, the auto giant star declare The company plans to close its Vauxhall van factory in Luton, southern England, a move that will put more than 1,000 jobs at risk.
However, a group of 14 NGOs, think tanks and campaign groups wrote an open letter to the UK government in mid-November, call Maintain ZEV directive.
The group said the policy remains one of the country’s largest single carbon reduction measures and believes the flexibility currently provided to the auto industry is sufficient.
A UK government spokesman said a consultation would be launched soon to consider how to support the industry in meeting its commitment to phase out the sale of new cars powered solely by internal combustion engines by 2030.
“We recognize the global challenges facing the industry,” a government spokesperson told CNBC via email. He cited a £2 billion ($2.54 billion) investment to support the transformation of domestic manufacturing and announced more than A budget of £300 million to promote the popularity of electric vehicles.
