Around the world, electric vehicles are slowly but surely gaining momentum and, more importantly, market share. The United Kingdom market is no exception, as it reportedly established a new record for EV market share last month.
The Society of Motor Manufacturers and Traders (SMMT) just released February 2022 numbers, revealing that EVs are now capturing a a 17.7 per cent market share of auto sales in the UK. Comparatively, EVs reached 11.6 per cent market share in the country last year. The primary catalyst? Tesla’s Model Y.
Tesla Model Y
The highly-anticipated Tesla EV just made its debut in the European market and, despite launching during the last week of the month, the Model Y still took fourth place on the bestseller list for February. The top three spots were awarded to the Vauxhall Corsa, Mini, and Vauxhall Mokka, while Tesla’s Model 3 scored the fifth spot. Presumably, March will bring another significant increase, now that Model Ys are being delivered to UK customers.
Notably, car sales have decreased across the board throughout the pandemic, which gives automakers the opportunity to close the gap between electrified models and gas-powered vehicles. Moreover, as gas prices continue to soar in response to the sanctions placed on Russia amidst its invasion into Ukraine, more consumers are likely to consider making the switch to an EV.
