EV sales for March up 79% year-on-year - Fleet Summit
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  • EV sales for March up 79% year-on-year

    960 640 Stuart O'Brien

    By James Morris, WhichEV

    Almost 40,000 new electric cars were registered in March 2022, an increase of 79% on the previous year.

    While the increase was spread across a number of popular models from Stellantis, VW and Hyundai – the sales data from Tesla really stood out.

    Considering the average price of a new petrol or diesel car in 2021 was around £22,000, the big sellers in March 2022 were the Tesla Model Y and Model 3 – occupying number 1 and 2 spots for March.

    On a ‘year-to-date’ basis, they are now the 6th and 7th best selling cars, respectively. What makes that unusual, is that a Model 3 will cost you an average of £45,000 and the Model Y closer to £55,000.

    In the past, that kind of money would normally be reserved for executive cars from Mercedes, Lexus and BMW – none of which have a model in the Top 10 so far this year.

    Looking at the growth in EV sales, it’s worth noting that the overall car market declined by more than 14% – driven mostly by a drop of more than 55% in diesel registrations.

    With diesel prices close to £1.80 a litre and most energy suppliers still offering electricity at lower rates overnight, we’re only going to see an increase in momentum from polluting, fossil fuel cars to cleaner, cheaper-to-run EVs.

    Rapidly declining resale values on fossil fuel cars, over the coming years, will only see the rate of change accelerating.

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    AUTHOR

    Stuart O'Brien

    All stories by: Stuart O'Brien