Electric Vehicle Sales to ‘Dominate Car Sales by 2040’

Worldwide electric vehicle sales are expected to overtake conventional car sales by 2040. That is according to a report by energy research organization Bloomberg New Energy Finance. They say battery-powered car sales will rise from two million last year to 56 million over the next twenty years.

That new figure will likely mean that electric vehicle sales will constitute 57% of new car sales around the world. That percentage will be aided by a decrease in traditional passenger vehicles. Conventional vehicle sales are expected to halve over this time, dropping from approximately 85 million currently to around 42 million.

Vehicle Electrification WIll Still ‘Take Time’

Bloomberg New Energy Finance’s Head of Advanced Transport, Colin McKerracher, said of the report, “Our conclusions are stark for fossil fuel use in road transport. Electrification will still take time because the global fleet changes over slowly but once it gets rolling in the 2020s, it starts to spread to many other areas of road transport. We see a real possibility that global sales of conventional passenger cars have already passed their peak.”

There are still some doubts from other quarters regarding how long vehicle electrification will take. It is understood that road emissions are likely to continue increasing up until around 2030. It is also difficult to gauge entirely accurately due to the different electric vehicle adoption rates of different countries.

UK’s Electric Vehicle Growth Lagging Behind Europe

According to the European Automobile Manufacturers Association, the UK’s electric vehicle growth is far behind other major European nations. This comes from a new report published by the lobbying and standards group for the EU’s automobile industry. It reveals the UK sold a total of 15,510 fully electric cars during 2018, an increase of 13.8% from 2017. However, average growth over that same time across the continent was much higher at 48.2%. Perhaps more alarmingly, the average growth over the same period rises to 53.2% when counting just EU member states.

Battery-powered vehicle sales were more than twice as high in Germany and France, selling 36,216 and 31,095 respectively. Despite its much smaller population, Norway sold over 30,000 more electric vehicles than the UK.

Governments Must Introduce ‘Meaningful and Sustainable’ Incentives

The Secretary General of the European Automobile Manufacturers Association, Erik Jonnaert, said, “Besides investing in charging infrastructure, governments across the European Union need to put in place meaningful and sustainable incentives in order to encourage more consumers to make the switch to electric.”

Unfortunately the UK Government reduced the grant to help people buy fully electric cars from £4,500 to £3,500 in 2018. They completely got rid of the financial incentives for plug-in hybrids as well. However, there are still other incentives in place, such as grants for personal electric vehicle charge-points for homes.

If you are interested in learning about or acquiring an electric vehicle charge point, email Caplor Energy or call 01432 860644. Caplor are award-winning experts in the design, installation and maintenance of renewable energy systems.

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