Demand for electric and hybrid vehicles has surged for the month of August, seeing as much as a 72% increase when compared with the previous months, despite overall vehicle registrations decreasing by 22% for the same time period, the latest data from the Society of Motor Manufacturers and Traders (SMMT) suggests.
Vehicle registrations. Credit: Wellnhofer Designs / Shutterstock
UK vehicle registrations are still up year-on-year due to the effects of the coronavirus pandemic. Wellnhofer Designs / Shutterstock
Monthly performance in terms of UK vehicle registrations was at its weakest since August 2013, with 68,033 total sales, with the month of August traditionally being something of a slow period in terms of vehicle registrations.
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The semiconductor shortage has continued to hamper production, particularly for electric vehicles, and the demand surge seen for the month has caused further supply issues, with the shortages seemingly capping growth for the sector.
Demand for battery-electric vehicles increased by 32.2% for the month, whereas hybrid vehicles saw a 45.7% increase and demand for plug-in hybrids sored by 72.1%.
The SMMT report that there are now 130 plug-in hybrid models on the market and demand has been aided - seeing the highest relative increase for all electric vehicles for five out of the past six months - by the UK's Plug-in Car Grant.
Registrations by private, business and fleet buyers all fell by double digits in the month, with fleet purchases dropping by 27.%, a loss of 12,627 units, while business fares slightly better with -15.2%, or 33,771 units, meaning just shy of half of all registrations fell on private consumers.
So far, UK registrations are up 20.3%, to 1,101,302 registrations - an increase of 185,687 units - year-on-year due to the myriad consequences of the coronavirus pandemic and its lockdowns faced by most of the globe during 2020.
“While August is normally one of the quietest months for UK new car registrations these figures are still disappointing, albeit not wholly surprising," Mike Hawes the SMMT's chief said. "The global shortage of semiconductors has affected UK, and indeed global, car production volumes so new car registrations will inevitably be undermined."
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He added: "Government can help by continuing the supportive Covid measures in place currently, especially the furlough scheme which has proven invaluable to so many businesses.
“As we enter the important September plate-change month with an ever-increasing range of electrified models and attractive deals, buyers in the market for the new 71 plate can be reassured manufacturers are doing all they can to ensure prompt deliveries.”
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