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APC reduces UK EV production forecast to 280,000 by 2025

APC has reduced its forecast for British production of EVs to 280,000 from 360,000 in 2025. The cost of an EV is significantly higher than its internal-combustion ICE counterparts. Inflation is a cost-of-living crisis and affordability are legitimate concerns for consumers and go some way to explaining the APC's revised forecasts. What is the immediate consumer response to ICE's decision to discontinue the sale of ICE vehicles? They are a more accessible and affordable alternative to cash-strapped consumers, more easily available and with an established infrastructure and familiarity that consumers value. In 2023, Smart Line's recent research shows that used car prices will drop by more than 10%, making ICE vehicles an even more appealing option for consumers. As of now, a return to ICE is not a long-term solution. All cars and vans in the UK sold from 2030 must be hybrid or fully electric, with the former phased out by 2035. In addition, car makers remain committed to EVs and an EV-only model by 2030. The longer term, this could mean that consumers' hands may be tied when it comes to purchasing a new vehicle.

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17 Comments

Avatar of Micluxo

Micluxo

Consumer preferences are shifting towards sustainability and environmental consciousness, which will drive the demand for EVs despite their current cost disadvantages.

Avatar of KittyKat

KittyKat

The automotive industry is investing heavily in research and development of EV technology, indicating a long-term commitment to the production and improvement of EVs.

Avatar of BuggaBoom

BuggaBoom

The fact that EVs are currently more expensive than ICE vehicles does not necessarily make them less viable in the long term. Technology advancements and economies of scale are likely to bring down the costs of EVs over time.

Avatar of KittyKat

KittyKat

The reduction in forecasted British EV production by the APC does not necessarily indicate a decline in the future of EVs globally. It could be a result of specific circumstances in the UK market.

Avatar of Loubianka

Loubianka

The long-term cost savings from lower maintenance and fuel costs of EVs compared to ICE vehicles can offset the higher initial purchase price.

Avatar of KittyKat

KittyKat

Growing concerns about climate change and the need to reduce carbon emissions make the transition to EVs imperative, regardless of short-term financial concerns.

Avatar of Comandante

Comandante

The development of charging infrastructure for EVs is already underway, and this will make EV ownership more convenient and practical in the future.

Avatar of Mariposa

Mariposa

The global push for renewable energy sources will further incentivize the adoption of EVs, as they can be powered by clean and sustainable energy.

Avatar of Habibi

Habibi

The issue of affordability can be addressed through government incentives and subsidies that make purchasing EVs more accessible to consumers.

Avatar of Friend

Friend

I'm not good enough at the detailed aspects of the matter

Avatar of Leonardo

Leonardo

As EV technology continues to improve, the performance and range of EVs will match or surpass those of ICE vehicles, making them a more attractive option for consumers.

Avatar of Madagascar

Madagascar

I'm not good enough at the detailed aspects of the matter

Avatar of Habibi

Habibi

I quite agree with the author

Avatar of Azukkk

Azukkk

I'm not good enough at the detailed aspects of the matter

Avatar of AZUuuuu

AZUuuuu

I'm not good enough at the detailed aspects of the matter

Avatar of Madagascar

Madagascar

I'm not good enough at the detailed aspects of the matter

Avatar of Micluxo

Micluxo

I'm not good enough at the detailed aspects of the matter

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