The variety of petrol vehicles within the UK is about to say no from the present 18.7m to 11.1m by 2034, says Auto Dealer.
As customers transfer in direction of EVs on account of elevated affordability and worth parity with ICE, petrol will decline.
Ian Plummer, business director, stated: “Peak petrol is a real landmark for the UK. We count on to see a seismic shift in British motoring over the subsequent decade because the variety of petrol vehicles falls by almost half and EVs take a a lot greater share.
“All that is taking place towards the backdrop of exceptionally sturdy used automotive demand regardless of a spread of challenges for the trade, not least the introduction of ZEV targets, constrained provide, altering finance guidelines, and the Price range.
“We’re seeing record levels of engagement on our platform, rapid speed of sale, and the stabilising of retail prices. And with the more attractively priced and available stock in recent months helping to fuel new car interest, the overall retail market is entering 2025 on a strong footing.”
Over the identical interval, the variety of EVs is about to rise from 1.25m to 13.7m and the general inventory of diesel engine autos declines from 10m to 4.3m, in response to Auto Dealer.
The rise would depart the 2025 new automotive market 14% under the two.31m new automotive registrations recorded in prepandemic 2019. EV market share is about to rise from round 18% in 2024 to 23% subsequent 12 months which is under the 28% ZEV Mandate.
