New UK ‘driveway’ rule with EV ‘tipping point’ as | Tech News

March proved to be a record-breaking month for electric car registrations, with demand surging as fuel costs proceed to climb, based on new figures. Electrified automobiles accounted for 196,059 registrations final month, the Society of Motor Manufacturers and Traders (SMMT) revealed.

Battery electric car registrations reached 86,120 in March, a leap of 24.2 p.c in contrast with the identical month final 12 months, setting a new all-time high. In addition, plug-in hybrid registrations rocketed by 46.9 p.c year-on-year, whereas hybrid electric automobiles rose by 7.3 p.c.

This comes in opposition to a backdrop of hovering oil and gasoline costs driving up the fee of fuel, fuelled by the continuing battle within the Middle East. The impression has been felt by drivers on the pumps, and the SMMT steered it might spark better curiosity in electric automobiles (EVs), that are partly or absolutely powered by batteries.

Average unleaded petrol costs have risen by roughly 18 p.c for the reason that Iran struggle escalated on the finish of February, reaching 157p a litre, based on the newest figures from the RAC. The surge has been even more pronounced for diesel, which has jumped by a third to an average of 189p a litre.

Despite the mounting stress on fuel prices, the general new car market expanded by 6.6 p.c in March in contrast with final 12 months, with 380,627 new automobiles registered, the SMMT confirmed. This marked the strongest month-to-month gross sales efficiency since 2019, earlier than the pandemic took maintain. March is historically the busiest month for new car gross sales, as many consumers choose to carry off till the quantity plate change.

Mike Hawes, the SMMT’s chief govt, famous that “much of March’s performance will be from orders placed before the start of the Iran conflict” however warned that the struggle “threatens to raise the value of residing, undermining shopper confidence”.

Despite this, Ian Plummer, chief buyer officer for vehicle market Autotrader, revealed that the platform had recorded a vital spike in enquiries for new electric automobiles final month.

“Interest has picked up sharply as fuel prices rise, with new EV inquiries on our platform surging between February and March – the equivalent of one every minute last month,” he mentioned. “If that online intent converts into sales, progress will follow.

“With a wave of new fashions, deeper reductions and decrease operating prices, more consumers are beginning to see EVs as a option to take control of their vitality prices. The market could be fast approaching an EV affordability tipping level.”

However, the SMMT expressed concern that despite growing EV demand, its share of the overall car market stood at roughly 22 percent last month. This falls considerably short of the Government’s zero-emission vehicle (Zev) mandate, which stipulates that at least 33 per cent of cars sold by each manufacturer this year must be zero-emission, typically meaning pure battery electric vehicles.

Mr Hawes called for an “pressing review of the transition” to electric vehicles, stating that recent geopolitical developments had made the matter all the more pressing.

A spokesperson for the Department for Transport said the Government was working to support businesses through the shift to electric by channelling investment into areas such as EV manufacturing and expanding the UK’s charging infrastructure. The Government has also recently increased the grant available to those without a driveway, such as tenants, who wish to install an EV charger, raising it from £350 to £500.

“Our Electric Car Grant is making EVs cheaper and more accessible than ever,” they said. “Over 85,000 drivers have already saved up to £3,750 when shopping for a new EV, and we’re saving renters £500 off the fee of putting in home chargers unlocking cheaper charging charges for residents – and with international price fluctuations on the petrol pumps, making the change has by no means made more sense.”