The Lack Of EVs In The SMMT Best Sellers (August 2020) List, Is A Reminder That EV Mass-Scale Adoption Is Still At Very Early Stages!
Before moving onto the latest results i.e. the August 2020 new car registration update, let us briefly remind ourselves of the July 2020 registrations update.
July 2020 witnessed a continued increase in the registration of battery-electric vehicles (BEVs), despite a continued slowdown in the sales of petrol and diesel internal combustion engine (ICE) cars. Petrol new car registrations were up by just 0.3% in July 2020, compared to July 2019. Diesel performed worse, with a 25.9% decline. Diesel market share decreased from 24.7% to 16.5% in July 2020, compared to July 2019. Petrol market share declined from 64.3% to 58% in the same period.
BEV market share increased from 1.4% in July 2019 to 4.7% in July 2020. PHEVs (plug-in hybrid electric vehicles) also witnessed a similar increase from 1.1% in July 2019 to 4.3% in July 2020.
The August 2020 new car registrations update from The Society of Motor traders and Manufacturers (SMMT), is a continuation of the trend so far witnessed in 2020 i.e. diesel cars further declining in market share between August 2019 to August 2020 from 25.5% to 16.4%.
The same is the trend with petrol cars, witnessing a decline from 62.5% to 56.6% between August 2019 to August 2020. In terms of registrations, diesel registrations have declined by 39.5% in August 2020 compared to August 2019, with petrol registrations decreasing 14.7% in August 2020.
Year-to-date the overall sector continues to face a challenging trading environment, with new car registrations down 39.7%. Despite the continued increase of sales of electric vehicles, absolute volumes remain small, with BEV and PHEV combined, new EV car sales are still below the 10% market share threshold.
Also, the lack of BEVs and PHEVs on the SMMT August 2020 Best Sellers list, is a firm reminder that the despite all the progress, the adoption of electric vehicles is still at a nascent stage.
This week celebrates the inaugural World EV Day, a day of not only celebration, but also a day of reflection, on what has been achieved to date, and what needs to be done, to enable mass-scale adoption of zero tailpipe emission electric cars.
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