Home | LATEST NEWS | Electric vehicle market enjoyed 88.9% surge in registrations in August
Electric vehicle market enjoyed 88.9% surge in registrations in August
Electric vehicle market enjoyed 88.9% surge in registrations in August

Electric vehicle market enjoyed 88.9% surge in registrations in August

The electric vehicle market enjoyed a significant increase in August, with registrations leaping a mammoth 88.7%.

It is a huge change from previous months; although the overall pattern of registration in the alternatively-fuelled vehicles market revealed growing popularity in July, there is a wide chasm in the percentage increase in registrations.

For July, the number of registrations in the electric vehicle market rose by more than a fifth; for August, this figure is up almost nine tenths.

The figures, which come from the Society of Motor Manufacturers and Traders (SMMT), reflects the growing range of choice in the electric vehicle market, as well as the ever-increasing investment in the delivery of ultra-low and zero emission models for the market.

According to the SMMT, billions of pounds of investment has been ploughed into the development of the electric vehicle market.

With more towns and cities implementing plans to make their air cleaner, and reduce pollution, these vehicles are going to be vital for businesses in the future.

And August’s figures reveal a huge rise in the registration of alternatively-fuelled vehicles; for the month of August, the registration of 7,489 electric vehicles is well above the 3,968 from last August.

In terms of the market share of alternatively-fuelled vehicles, this has increased from 5.2% in August 2017 to 8% in August 2018.

For the year to date too, the registration of these types of vehicles has risen.

Up to now this year, 91,069 have been registered, eclipsing the 71,497 from the same time in 2017. This represents an increase of 27.4%.

Again, the market share of these vehicles has increased in the year to date, from 4.4% to 5.8%.

However, Mike Hawes, Chief Executive of the SMMT, sounded a note of caution.

He said: “It’s great to see such strong growth, particularly in the important electric vehicle market.

“However, given August is always a small month in new car registrations ahead of the important plate-change month of September, it would be wrong to view the market as booming.

“In the long term, however, the new emissions certification test will give consumers renewed confidence in the performance of all vehicles, helping them choose the latest, cleanest technology that best suits their driving needs, whether that be petrol, diesel, hybrid or plug-in.”

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