It’s been noted by many that electric car ownership is mainly a middle class hobby. Those who live in flats or terraced houses have nowhere to plug-in their cars, so they socially excluded like a vaccine passport refusenik.
The typical small electric car costs over 25K even with a grant, which is more than an entire year’s wages for most working class people. In the meantime insurers and brokers have a wealthy consumer base to sell to – most have driveways, live in nice areas and enjoy a high income of over 50K a year. So they can afford bolt-ons like legal and breakdown, charging point cover etc. plus afford a high premium.
Rivervale leasing have delved into the most recent DVLA data to discover the most popular Electric Vehicle of the past year. Yep, it’s that fashionable Tesla, which also tells you a great deal about the mindset of the average electric car buyer; they embrace tech, they wish to look cool to their neighbours and spend money on climate change virtue signalling. These are all opportunities.
Top EV Models & Total New Registrations 2020
1. Tesla Model 3 – 19,288
2. Kia Niro – 8,939
3. BMW 330e – 8,580
4. Nissan Leaf – 6,733
5. Hyundai Ioniq – 5,213
6. Jaguar I-Pace – 4,312
7. Mitsubishi Outlander PHEV – 4,184 (hybrid)
8. MG ZS EV – 3,695
9. Volkswagen e-Golf – 3,651
10. BMW i3 – 3,289
Yeah – MG make an electric car, who knew?
Electric car growth peaked in 2020 while traditional fuels fell behind
While coronavirus undoubtedly affected the automotive industry, it seems that electric vehicles haven’t seen a negative impact. New registrations for traditionally fuelled cars decreased in 2020 while EVs remained on the up, with a higher-than-average growth rate of around 1.64%, when compared to the previous four years.
Bud Johnston, Group Marketing Manager at Rivervale says, ‘More than ever, drivers want to make the change to an eco-friendly car, which means switching to electric. With lower running costs, tax benefits and home charging schemes, Brits can find lots of incentives to drive an electric vehicle. Not only are they cheap to run, but EVs are also becoming more affordable. The government’s plug-in grant offers up to £3,000 off eligible vehicles, which is available whether you’re buying or leasing an electric car.’
You can find out more information here: https://www.rivervaleleasing.co.uk/blog/posts/uk-popular-cars-over-time