The UK new car market is set to see “widespread pre-registration” of electric cars in the fourth quarter of 2025, a member meeting of the Vehicle Remarketing Association (VRA) was told last week.
Rupert Pontin, head of insight and communications at Brego, pointed out the government’s Zero Emissions Vehicle (ZEV) Mandate for this year was 28% of new car sales – but sales were currently only running at 22%.
“It seems inevitable that some manufacturers with some models will be pushing out stock in an attempt to minimise their ZEV Mandate exposure.
“Of course, this would put pressure on late plate values but also introduce offers into the market that offer exceptional value for buyers.”
Mike Fazal, CEO of Leasing.com, said the government’s new electric car grants, introduced in July, were already having a noticeable effect.
“There’s been some criticism of the scheme but it has driven both engagement and sales. Overall, electric car prices have fallen on our platform and the overall percentage of electric car queries we are seeing for Personal Contract Hire has risen from 24% in June to 44% in November.
“However, it’s clear that it is very much an offer-driven market. Electric cars that look like exceptional value are delivering the sales. For example, the Ford Puma Gen-E – one of very few models to qualify for the full £3,750 grant – is currently very well priced and among the best sellers on our platform.”
Nick Press, finance and leasing development director at Auto Trader, agreed that demand in this sector was often stimulated by attractive pricing, and pointed out consumers were showing much less brand loyalty when it came to electric cars.
“When it comes to used electric cars, only two in 10 buyers stay with the same brand they already drive compared to four in 10 for petrol and diesel models.”
