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EV demand now higher than diesel in UK leasing sector

By / 2 months ago / UK News / No Comments

Demand for electric vehicles has overtaken diesel engines for the first time in the new car leasing market, new figures indicate.

New car leasing enquiries for EVs – comprising battery electric vehicles (BEVs), plug-in hybrids and hybrid – outperformed demand for diesel vehicles throughout the second quarter of 2021

The data from comparison site Leasing.com shows sales enquiries for EVs – comprising battery electric vehicles (BEVs), plug-in hybrids and hybrid – outperformed demand for diesel vehicles throughout the second quarter of 2021, after steadily increasing since the start of the year.

Since January, BEV inquiries have risen 27% and hybrids by 57%, with the biggest increase being seen in plug-in hybrids at 78%. In contrast, petrol vehicles only saw a 3% growth and diesel plummeted by 13%.

Leasing.com expects to see BEVs hit 20% of overall enquires in 2021.

Dave Timmis, managing director of Leasing.com, said: “We’ve been planning for the UK market to shift towards electric drivetrains, but the rate at which they’ve overtaken diesel has been surprising.”

He added: “The rise of electric vehicles is being driven by increased accessibility. The market was previously dominated by relatively expensive models such as the Tesla Model S, while newer cost-effective models like the Hyundai Ioniq and the Vauxhall Corsa-e are now opening up EVs to all motorists in the UK and leasing is helping to make them affordable.”

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.