The electric car market has skyrocketed in recent years, thanks in no small part to the advances in technology and the success of luxury electric companies such as Tesla.
Indeed, 2020 is looking set to be the year of many things (global pandemics, biblical floods etc) but it’s also expected to be the year of the electric car according to industry analysts.
This year, the number of electric cars available in Europe will jump to 175, with more than 330 expected to be available by 2025. This is particularly notable given that the electric car was always traditionally seen as a ‘niche’ luxury item.
The idea behind more recent models, however, is to bring the market to the masses, with familiar names like Mini and Fiat throwing their keys in the ring with their more affordable electric cars.
In 2019, electric car sales represented 3.4% of all cars sold. This is expected to rise to 5.5% this year and will continue growing as the demand for petrol cars declines amidst rising fuel costs and environmental concerns.
The current state of affairs has undoubtedly been spurred on by legislation that penalises carmakers that produce too much carbon dioxide. After all, it’s surely safer to focus on cars that are completely beyond that risk. Generally speaking, however, it’s more likely public sentiment that has led to this shift in automotive trends.
From the consumer side, the benefits are obvious. Not only is it markedly cheaper to charge at an EV point (or at home) than it is to fuel up at a petrol station, but it provides a greater sense of independence. Modern electric cars also have a much greater range than their older counterparts and there are other fringe benefits too.
For example, there are government incentives in place that offer money-back to those opting to go electric. There is also the case of insurance and warranty cover. Not only are electric cars cheaper to insure, but companies such as the ALA offer extended warranty on all-electric cars, including best-selling models such as the BMW i3, the Nissan Leaf and the Renault Zoe.
The electric trend is an encouraging one indeed, with SMMT figures revealing that in both January and February this year there have been major increases in registrations of purely electric and hybrid cars.
Electric vehicle statistics also reveal that the cars which have been most popular are not the Teslas and the Jaguars, but the Mitsubishi Outlanders, the BMW i3s and the Nissan Leafs – the cars that are designed not for celebrities and C-suite individuals but for everyday people.
And this is inspiring because these are the people that will be truly taking the UK into a fully electric future.