Hybrid and Electric Cars - UK - December 2016
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“From what can be considered as comprising a niche market, hybrid and electric cars are quickly establishing themselves as a fast-developing market. Stimulated by support from government and manufacturers, demand for these vehicles has led to them becoming the most dynamic segment within the UK car market. With support and innovation continuing, Mintel predicts further expansion with these vehicles becoming a common feature on our roads.”
– Neil Mason, Head of Retail Research
This report looks at the following issues:
Historically, the environmental benefits of hybrid and electric cars have been the main driver of sales. Added to this are the financial savings that are possible, best illustrated by their lower running costs compared to petrol or diesel vehicles. While the higher purchase price of a hybrid or electric car remains a major barrier, this too has been lowered in recent years through the availability of the UK government’s plug-in car grant. Worth up to £5,000 off the price of a qualifying car, the grant has helped with the affordability of going hybrid or electric.
An additional push for the market has come from the expansion in the number of models in segments such as ULEVs (Ultra Low Emission Vehicles). These have grown from 12 in 2012 to 38 by Q2 2016. As this market has continued to develop, many more manufacturers have entered. Yet despite this, segments such as ULEVs remain dominated by a small number of companies with Mitsubishi and Nissan accounting for over half of sales in 2015.
Mintel’s report on the hybrid and electric car market covers vehicles that are powered either wholly or in part by an electric motor and/or batteries as defined by the UK government. These vehicles are slowly becoming a feature of the UK car market although currently they still account for only a small percentage of vehicles on the road.
Five types of hybrid and electric car are included in this review:
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.