Commentary | SMMT New Car Registrations
While the Electric Car Grant has provided a much-needed boost for consumer interest in new electric cars, with EV consideration up 10 percentage points on Autotrader, it also explains slow July sales as buyers wait to see just which models will get what level of grant. Over a dozen brands are now offering their own version of the grant to entice drivers and with some experiencing three digit increases in the number of buyers looking at their models on Autotrader, we can expect this to trickle through to EV sales in the coming months.
“Elsewhere, Friday’s Supreme Court ruling is a welcome relief for industry, but clarity is the priority now – for both the industry and consumers. Finance is a key enabler of people being able to get into a new car and is also a vital component of the electric transition, so we need to ensure consumers trust the process and the industry.”
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