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UK Demand For Electric Cars Soars Despite COVID Crisis

UK Demand For Electric Cars Soars Despite COVID Crisis
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UK Demand For Electric Cars Soars Despite COVID Crisis

Tyler Durden

Wed, 11/11/2020 – 04:15

Reacting to the latest new UK car registration figures from SMMT this week, Chief Executive Mike Hawes warned:

“When showrooms shut, demand drops, so there is a real danger that with England today entering a second lockdown, both dealers and manufacturers could face temporary closure. What is not in doubt, however, is that the entire industry now faces an even tougher end to the year as businesses desperately try to manage resources, stock, production and cashflow in the penultimate month before the inevitable upheaval of Brexit.”

Despite the clear crisis the COVID-19 pandemic has caused for the industry, Statista’s Martin Armstrong notes that there are certain types of car which are still seeing growing demand.

Infographic: UK demand for electric cars growing despite Covid crisis | Statista

You will find more infographics at Statista

As this infographic shows, although there are still far more petrol and diesel cars being sold, demand has shrunk by 39 and 55 percent compared to 2019, respectively. Cars powered to some degree by electricity have weathered the pandemic storm, posting growth of 169 percent for vehicles powered solely by batteries, 92 percent for plug-in-hybrids and 11 percent for hybrids.


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About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

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