New Electric Vehicle registrations predicted to be over 330,000 in 2022
The old saying goes that there are only two certainties in life; death and taxes. Here at DriveElectric though, we’d like to add a third – ‘a year-on-year increase in New Electric Vehicle registrations’. It might not be as snappy as Twain, but it’s definitely proving just as true.
We’ve predicted these figures for a few years now and have been very accurate. We predicted 200,000 new EV registrations for 2021, with the grand total reaching around 191,000. Our 2020 predictions were exceeded by 10,000 – a prediction we’re happy to have underestimated!
Factors Pushing The Number Down
There’s a huge demand for new vehicles that simply aren’t being made due to a global shortage of raw materials and components; namely semiconductors. This shortage is expected to last until around mid-2022.
Energy prices in the UK are set to rise even further over the next 12 months. However, even taking inflation into account, it will still be far cheaper to run an electric vehicle than a traditional petrol or diesel one. The home charger grant is also unfortunately coming to an end in March ‘22.
Factor(ie)s Pushing The Number Up
Publicly available charging points are going to increase dramatically, with improved reliability, making it even easier to charge an EV wherever you are in the UK. Businesses are also going green and being ever-more mindful of their corporate carbon footprint.
Tesla is also bringing its hugely popular Model Y to UK roads – the mid-size, all-electric SUV is available to lease here.
Tesla are also among nine other huge OEM manufacturers to open their brand new EV factories. All twelve of the factories are due to start production in 2022. Stellantis (parent company to brands such as Vauxhall, Peugeot and Fiat to name but a few) even has one opening up in Ellesmere Port, Cheshire.
A word from our Managing Director, Mike Potter;
“EV registrations will continue to increase, however issues such as the semiconductor shortage will still have an impact on the availability of vehicles as we enter 2022. We see this challenge improving by mid-2022 and sales for the remainder of the year should offset the slow start, helped by yet more new EV models coming to market.”
To 2025 & Beyond
Maybe we’re getting ahead of ourselves predicting so far ahead, but new diesel and petrol vehicles will be no more come-2030. Because of that, we predict in 2025 around 50% of new registrations will be EVs, as the residual values of traditional cars fall and the cost of leasing them increases.
But don’t take our word for it. COP26 identified EVs as a key factor in getting the UK to achieve its Net Zero targets. Leaders of the world, DriveElectric is here if you need a great leasing deal on the latest EV.
So there we are, death, taxes and EV registrations. Although, if you do become one of the 330,000 driving an EV in 2022, at least you’ll be softening the blow of the ‘tax’ bit.