The Parc of electric/fuel cell vehicles in United Kingdom attained a value of 457,857.00 Units in 2020
The indicator recorded a historical growth (CAGR) of 53% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
Electric Cars segment in the United Kingdom
The hybrid and electric cars market consists of the initial retail sale/registration of new electric and hybrid passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s, and other related vehicles. The market value is calculated at retail selling price (RSP) and the market volume is given in terms of units sold. The electric cars segment refers to all-electric vehicles only, namely Battery Electric Vehicles (BEVs). The hybrid cars segment refers to all types of hybrid electric cars such as plug-in hybrid electric vehicles (PHEVs), Extended Range Electric Vehicles (EREVs), and standard Hybrid Electric Vehicles (HEVs). Other alternative fuel vehicles (e.g. LPG or Hydrogen fuel cell) are not included.
The UK hybrid and electric cars market remained at a growth trajectory in 2020. The market is expected to accelerate at higher growth rates during the forecast period as the adoption of hybrid and electric cars will continue to increase, driven by increasing affordability and the expansion of charging infrastructure. In recent years, the UK electric and hybrid car market has grown significantly due to the consumers’ desire to be green-friendly towards the environment. It has also been largely driven by government subsidies and preferential tax treatment for hybrid and electric cars. Government grants for plug-in cars have been applied, although their amount has been gradually decreasing.
Competitive landscape
Competition and players’ strategies are shaped by the different sub-segments within the market, such as standard non-plug-in hybrids (HEVs), plug-in hybrids (PHEVs), extended-range electric vehicles (EREVs), and battery all-electric vehicles (BEVs), which are further split into different size-segments (sub-compact, compact, mid-size, full-size, SUVs, etc.). Price and product features, such as range capacity and battery efficiency, also have a huge bearing on competition and players’ strategies. As such, supply chain strategies are crucial for competition. Moreover, as price tends to be highly proportional to range capacity and battery efficiency, players target different segments with different models. Overall, different strategies in the market lead to different competitive advantages.
Who are the leading players?
Tesla Motors has a strong presence in the electric cars segment in the UK, through the premium sedan Model S, the SUV Model X, and recent sedan Model 3 all-electric cars. It’s Tesla Model 3 was the best-selling electric car in the market in 2019.
Toyota Motor Corporation (Toyota) is dominant in the standard hybrid segment in the UK through its top-selling sub-compact model Yaris brand which is among the most affordable, and other models such as the sub-compact Prius and Auris, the Corolla compact sedan and the RAV4 SUV, as well as through the hybrid sales of its Lexus brand. Toyota has currently one available plug-in model on offer, the Prius Prime, but its presence in the UK has been limited.
Bayerische Motoren Werke AG (BMW)
BMW has a significant share in the UK market through the all-electric BMW i3, which was among the top-five bestselling electric cars in 2019. Among its large plug-in hybrid range, BMW 530 was the most popular in the UK, the second best-selling PHEV. BMW has also captured a significant through the strong sales of its MINI Countryman PHEV.
Mitsubishi has established its presence in the UK market with its Mitsubishi Outlander PHEV SUV, which was the best-selling plug-in car in the market in 2019. Mitsubishi does not have any other models available in the market, except the different variants of its Outlander model.
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