Motoring experts at DriveElectric predict a significant rise in EV sales in 2023, after supply issues hindered EV sales growth in 2022.
The figure is based on DriveElectric’s own forecasts and is a significant increase from the 267,203 battery electric vehicles registered in the UK in 2022.
Mike Potter, CEO at DriveElectric said, “We have seen preference for electric vehicles continue to grow as more than 50% of people planning to buy a car have stated they will choose from either fully electric, plug-in hybrid or hybrid vehicles.
“There has also been a shift in the vehicle market as younger drivers choose their cars. In the 2021 census, it was revealed that over half of the young drivers in the UK will most likely switch to electric cars in the next decade”
The company predicts a 24.9% market share for battery electric vehicles in 2023, and a total market of 1.8 million registrations, translating to 448,000 BEV registrations.
Using their own algorithm built from intelligence of the UK market, DriveElectric forecasted a 16.7% market share for BEVs in 2022, which was almost identical to the actual market share of 16.6%.
As more EV factories open around the world, it is predicted that the amount of vehicles produced and delivered will increase. It is also predicted that the UK will see an increase in the presence of Chinese car brands, including GWM ORA who have just started selling their Funky Cat hatchback.
It is also predicted that the continued volatility of energy prices will see more people exploring ways to reduce energy costs for charging EV’s for example using solar and battery storage.