Petrol and Diesel Cars Scrapped More Frequently Than Electric Vehicles: Industry Trends and Future Outlook
As the world shifts towards a more sustainable future, the automotive industry is also making significant changes. Recent data has shown that petrol and diesel cars are being scrapped more frequently than electric vehicles, as drivers and car makers prioritize the transition to cleaner transportation options.
Insurers and car makers are leading the charge in getting rid of older petrol and diesel vehicles, with statistics revealing a stark contrast in the scrappage rates between traditional internal combustion engine (ICE) vehicles and electric vehicles (EVs). For vehicles less than one year old, only a small fraction of EVs were scrapped compared to a significant number of ICE vehicles. The trend continues for vehicles less than three years old, highlighting the accelerated rate at which petrol and diesel cars are being phased out.
Jonathan Clay, identification director of cap hpi, emphasized the importance of understanding these emerging trends as the EV market continues to evolve. With the UK’s commitment to achieving net-zero emissions by 2035, the push for a diesel and petrol ban is driving the transition towards cleaner transportation options. EVs are proving to be more durable and cost-effective, making them less likely to be scrapped compared to their ICE counterparts.
Thom Groot, CEO and Co-Founder of The Electric Car Scheme, believes that affordability is key to increasing EV uptake. As prices for EVs continue to drop and cheaper options become available, more consumers will have access to electric vehicles. Groot predicts that EVs could soon be available for less than £200 a month, making them a more accessible choice for drivers.
The transition to electric vehicles may not be linear, but with a growing desire from consumers to embrace sustainable transportation options, the future looks promising. Initiatives like The Electric Car Scheme aim to simplify the process of transitioning to electric vehicles and make it more affordable for everyone. As the automotive industry continues to evolve, the shift towards electric vehicles is inevitable, and it’s exciting to see the progress being made towards a cleaner and greener future on the roads.