--- title: "Interest in Electric Vehicles Declines as Consumers Return to petrol Cars" publisher: "Share Talk" author: "sharetalk" published: "2024-04-07T16:35:31+00:00" modified: "2024-04-07T16:40:52+00:00" date: 2024-04-07 canonical: "https://www.share-talk.com/interest-in-electric-vehicles-declines-as-consumers-return-to-petrol-cars/" category: "B2B" categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"] tags: ["Akio Toyoda", "battery-powered", "cell", "combustion engines", "electric", "electric cars", "electric vehicles", "EVs", "fuel", "hybrids", "hydrogen", "petrol", "Toyota", "vehicles"] image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/evs-130324.webp?fit=1200%2C800&quality=80&ssl=1" format: "news" language: "en-GB" --- # Interest in Electric Vehicles Declines as Consumers Return to petrol Cars **Published:** April 7, 2024 **Author:** sharetalk **Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms **Tags:** Akio Toyoda, battery-powered, cell, combustion engines, electric, electric cars, electric vehicles, EVs, fuel, hybrids, hydrogen, petrol, Toyota, vehicles **Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/evs-130324.webp?fit=1200%2C800&quality=80&ssl=1) --- The demand for electric vehicles (EVs) has seen a notable decrease, indicating a shift among consumers back to gasoline cars. According to the Society of Motor Manufacturers and Traders (SMMT), the market share for EVs diminished in the past month. The growth in EV registrations was just 3.8% compared to the previous year, lagging behind the 10% growth in the general car market. Petrol and hybrid cars exhibited more substantial growth. Sales of petrol-engine cars increased by 9.2% and constituted over half of the total sales, while plug-in hybrids experienced a 37% surge. The limited increase in EV sales in March came primarily from fleet and business purchases, with a decrease in sales to regular consumers, as reported by the SMMT. These statistics suggest that the current market for battery-powered cars is restricted. While early enthusiasts keen on zero-emission vehicles have already transitioned, the broader market remains hesitant. The higher cost of EVs compared to diesel or petrol models is a significant barrier. Additionally, concerns about the UK’s limited charging infrastructure are contributing to ongoing worries about driving range. The recent statistics from the Society of Motor Manufacturers and Traders (SMMT) coincide with comments from Carlos Tavares, CEO of the automotive giant Stellantis, which owns brands like Vauxhall, Peugeot, and Fiat. Tavares expressed scepticism about the universal appeal of electric vehicles (EVs). Speaking at the Freedom of Mobility Forum, Tavares emphasized the need for diverse mobility solutions rather than a one-size-fits-all approach. He acknowledged that while EVs might be suitable for certain segments of society, they might not be the answer for everyone. Tavares highlighted the sustainability challenge posed by the 500kg of raw materials needed for each EV battery pack. He stressed the necessity for a significant technological advancement that could reduce the weight of these batteries by half within the next decade. According to the SMMT, the market share for battery-powered vehicles in the UK dropped to 15.2% in March, a decrease from 16.2% in the previous year. Mike Hawes, Chief of the SMMT, pointed out that this decline in market share underscores the difficulties in increasing the adoption of EVs. In response to declining sales, various car brands, including Tesla, have been reducing their prices this year in an effort to stimulate demand. Car manufacturers are currently providing attractive incentives, including 0% finance and no-deposit options, along with deals that cover servicing and maintenance. Yet, Mr. Hawes cautioned that these enticing offers from automakers are not indefinitely sustainable. He suggested, “Support from the government for private consumers, in addition to business and fleet customers, would communicate a positive signal and ensure a quicker, more equitable shift within the planned timeframe and goals.” The Society of Motor Manufacturers and Traders (SMMT) has advocated for several measures to boost electric vehicle (EV) sales. They propose halving the VAT on new EV purchases, revising the upcoming road tax plans for these vehicles, and reducing taxes on public charging points to align them with home charging rates. Under current government regulations for achieving net-zero emissions, at least 22% of a manufacturer’s new car sales this year must be zero-emission vehicles. This requirement will increase each year, reaching 100% by 2035. Automakers who fail to meet these targets face substantial fines, calculated at £15,000 for each vehicle that exceeds the threshold. The influx of more affordable Chinese EVs into Western markets could potentially accelerate EV adoption. However, there are growing concerns regarding the security of Chinese-made vehicles and the possibility of state-subsidized manufacturers undercutting Western car brands. In response, the [EU has launched an anti-dumping investigation, and the US has labelled Chinese EVs as a national security concern](http://Prices%20of%20used%20electric%20cars%20fall%20due%20to%20an%20influx%20of%20cheap%20Chinese%20rivals). The SMMT reported that almost 318,000 cars were registered in the UK in March, marking the highest monthly total since 2019. Fleet purchases of 25 or more vehicles saw a near 30% increase, while private car sales experienced a 7.7% decline. --- **Original URL:** https://www.share-talk.com/interest-in-electric-vehicles-declines-as-consumers-return-to-petrol-cars/ *Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*