Buyers Guide

Electric Car Market: Industry Update

The future of the electric car market is a subject that has attracted a huge amount of interest in recent time. With more and more drivers opting for this clean approach, it is becoming easier to imagine the day when the majority of vehicles on our roads are battery-powered.

What is the market for these cars like just now and in what direction is the industry heading?

Increasing Sales Figures

A recurring trend in the EV market is the steady, year-on-year increases in sales figures. If we look at sales in the UK, we can see that battery-powered cars outperformed the overall car market at the start of 2019, with an 8% increase on the start of the previous year.

Around the rest of the planet, we can see that green vehicles are becoming increasingly popular. In the US, February 2019 was the 41th consecutive month of sales gains on a year-over-year basis. Across Europe, January 2019 saw a massive 67% increase in year-on-year sales figures.

What Does the Future Hold?

It seems clear that the electric car industry is gearing up to expand massively. With countries all over the world getting ready to ban internal combustion engines and battery prices set to drop, the demand for these vehicles is sure to rise in the near future.

Some analysts have noted 2020 as potentially being the year that these cars finally go fully mainstream, while others think that it could be closer to 2025.

The electric car market is ticking along nicely, but there is a feeling that it will move onto a whole new level before too long. It is undoubtedly an exciting industry that is moving in the right direction.

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