ZEV mandate ambitions derailed by weak consumer confidence
A crisis in consumer confidence will prevent the UK car market from reaching its ZEV Mandate targets, according to new research.
The latest insights from Cox Automotive is predicting that EV sales will fall short by 346,000 cars in 2028.
It says that 36% of new car registrations will be electric compared to the 52% target, with Cox Automotive’s quarterly insights identifying three key factors holding back uptake.
EV costs and an underdeveloped charging infrastructure are two major concerns among car buyers, but the research has also revealed an underlying lack of confidence to go electric among motorists.
It found that 68% of drivers wanted more information around battery life and recycling, while other areas that motorists wanted greater communication from manufacturers included ownership and running costs (58%), available models (26%), and environmental impact (16%).
Cost critical to ZEV Mandate
However, the greatest stumbling block remains cost, with 69% of drivers said they would not be prepared to pay more for an EV than a petrol or diesel model. As such, 86% want government incentives such as financial subsidies or grants (62%), reduced charging costs (56%), and free or discounted home chargers (52%).
Philip Nothard, insight director at Cox Automotive said: “Creating deadlines may convey a sense of urgency to the general public about the need for electrification, however that alone is not enough to drive adoption.
“The government needs to address this growing consumer confidence crisis with tangible incentives to help bring the price of EVs down and improve the nation’s charging infrastructure, while manufacturers and dealerships need to help combat misinformation about making the move to electric. Without these measures, we will simply set deadlines that we can’t hope to achieve.”
