At least 200,000 new pure electric vehicles will be registered in the UK in 2021, according to the latest market forecast from leasing firm Drive Electric.
The figure, based on the firm’s own modelling, represents a significant increase on the number of battery electric vehicles registered in the UK last year – 108,205.
Drive Electric says the government’s recent announcement that sales of new petrol and diesel cars and vans will end by 2030 has already focused people’s minds on EVs.
The company also believes the financial incentives for battery electric vehicles, including a rate of 1% Benefit in Kind (BIK) company car tax from April 2021 for a period of 12 months, will accelerate the trend.
It predicts that further EV launches from Volkswagen Group and Mercedes-Benz in 2021, as well as the growing popularity of models from Hyundai, Kia, PSA brands and Tesla will also play a part in the shift.
Drive Electric also cites growing environmental awareness among buyers as well as the better EV driving experience as factors.
The firm forecasts particularly high numbers of EV sales from 2025 onwards (about 50% of registrations).
It also says registrations of petrol and diesel vehicles will decline naturally ahead of the 2030 ban, as people will stop buying them due to poor residual values, higher lease costs, and less attractive pricing.
Mike Potter, Managing Director, Drive Electric, said: “It is interesting to see that battery electric vehicle registrations in 2020 exceeded our forecast despite the Covid-19 pandemic. (Drive Electric’s January 2020 forecast was that there would be 98,500 pure EV registrations last year.)
“In 2021 there will be even more EV models on sale, so motorists looking to save money on running costs and to banish tailpipe emissions will have even more choice.”