EV demand continues surge, but supply issues undermining new car market
Demand for electric cars has continued to surge even during a quiet August ahead of the registration plate change. The Society of Motor Manufacturers and Traders (SMMT) figures show that even as new car registrations fell by -22.0 per cent, demand for battery electric (BEV), hybrid (HEV) and plug-in hybrid (PHEV) vehicles rose 32.2, 45.7 and 72.1 per cent respectively. Overall, the UK new car market is up 20.3 per cent versus Covid-hit 2020, though the pandemic remains a blight on the market due in part to chip shortages.