Proactive Investors - A gap has appeared between Britain and Europe’s electric vehicle sales over the past year, according to Cornwall Insight analysts.
Between July 2022 and 2023, the number of battery-electric vehicles sold in European Union nations grew by 60.6%, compared to a more moderate 31% in the UK.
High inflation and energy prices, alongside scaled-back incentives in the UK compared to other major European nations held back sales, the consultancy said in a report.
A lack of infrastructure also acted as a barrier, the report continued, with just one publically available charge point for every 11.3 electric vehicles in the UK.
Analysts warned the UK’s delay to ban the sale of new petrol and diesel vehicles could hinder the UK’s transition to electric vehicles too, after rules were pushed back last week.
“This decision, while still in alignment with many European nations, is ultimately less ambitious and could see the UK’s EV transition lose some urgency in the coming years, as well as potentially impacting demand for EVs,” the consultancy wrote.
Britain is poised to introduce a mandate requiring a certain proportion of cars sold to be electric from next year, however.
Under the rules, 22% of vehicles sold in the UK next year must be electric, with this percentage stretching to as much as 80% by 2030.
“The jury is still out among automakers and industry bodies as to whether this would help or hinder the UK’s EV market, but either way, it is an important development to monitor,” analysts added.