Private EV demand lagging behind business users
New research from the BVRLA has revealed that EV demand among private drivers is catching up with business users, but still has a long way to go.
Its most recent Leasing Outlook report showed that both the business and personal sectors have seen an increase in demand for EVs.
Business users continue to set the pace in the move towards electrification, with half of business contract hire additions in the second quarter of the year EVs.
With few incentives for private motorists, the transition is taking longer although the BVRLA says demand for EVs is still on the up, driven by a greater range of vehicle coming to market and manufacturers adapting pricing to help them meet targets set by the Zero Emission Vehicle (ZEV) mandate.
EV demand
Toby Poston, BVRLA director of corporate affairs, said: “The pace of change between different sectors is stark. Where businesses have been quick off the mark, personal demand is slowly showing signs of catching up. Vans remain stuck in the starting blocks.
“The government’s decarbonisation deadlines are optimistic. While the latest data is encouraging, the transition remains fragile. One or two quarters with pockets of positive performance do not guarantee long-term success, with the long-anticipated challenge of an immature used EV market now on our doorstep. Without greater government support, meeting the mandate and ICE phase-out deadlines are at major risk.”
