An electric car battery is recharged at a roadside charging station on January 09, 2024 in London, England.
Leon Neal | Getty Images News | Getty Images
Britain is forecast to hit “peak petrol” in 2024, according to a new report, with electric vehicles (EVs) on track to take a larger share of the country’s car market.
Auto Trader said in an analysis published on Wednesday that the number of drivers on Britain’s roads is expected to fall by almost half over the next decade as drivers shift towards EVs.
The online vehicle platform estimates that there were 18.7 million gasoline-powered cars on the country’s roads in 2024, though this figure is expected to steadily decline to just 11.1 million by 2034.
At the same time, the number of EVs on Britain’s roads is expected to rise to 13.7 million over the next decade as affordability improves from 1.25 million in 2024.
Auto Trader said the EV share of the new car market is expected to rise from around 18% this year to 23% in 2025, which it said was slightly below the 28% target of sales under the UK government. A zero emission vehicle (ZEV) order.
“Peak Patrol is a real landmark for the UK,” AutoTrader’s Ian Plummer said in a report.
“We expect a seismic shift in British motoring over the next decade, as the number of petrol cars almost halves and EVs take a greater share,” he said.
“All this is happening against a backdrop of exceptionally strong used car demand A range of challenges for the industryIntroduction of ZEV targets, restricted supply, Changing financial rulesand the Budget,” Plummer said.
ZEV order
According to current regulations, manufacturers must ensure that at least 22% of new cars are zero emission vehicles. This ZEV target is set to increase to 28% from next year, 80% by 2030 and 100% by 2035.
Britain has a centre-left Labor government Faced the calls With flagging demand for EVs due to relatively high cost, the ZEV mandate is urgently considered to be reviewed.
The Society of Motor Manufacturers and Traders, a car lobby group, warned The government’s targets late last month are putting further pressure on the industry, raising the potential for “devastating effects” on business viability and jobs.
Last week, the automotive giant Stellar announced It plans to close its Vauxhall van factory in Luton, southern England, putting more than 1,000 jobs at risk.
A group of 14 NGOs, think tanks and campaign groups wrote an open letter to the UK government in mid-November. calling To uphold the ZEV mandate.
The group said the policy would be one of the country’s single largest carbon saving measures and argued that the current flexibilities provided to the car industry were sufficient.
A UK government spokesman said it would soon launch a consultation to consider how to support the industry to reach its commitment to phase out sales of new cars powered solely by internal combustion engines by 2030.
“We are alive to the global challenges facing the industry,” a government spokesman told CNBC by email, including a £2 billion ($2.54 billion) investment to support the transition to domestic manufacturing and a £300 million budget announcement to drive EVs.
