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Surges in Electric Vehicle sales and what this means for combustion engine vehicles

Recently, the sales of EVs have surged. Electric vehicles are becoming more and more popular.

Electric cars have important advantages

Plug-in cars are generally cheaper to run, and drivers don’t need to pay as much road tax. Of course, there are also many important environmental benefits, which makes driving an EV a great choice.

Environment

Zero tailpipe emissions and similar factors support the environment and help upgrade the living conditions for future generations.

Charging

Cars that are powered by electric motors are becoming more appealing to buyers and there are many charging points available throughout the UK. They can be found at supermarkets, service stations, hotels, shopping centres and other public places and often offer free charges.

Driving

The driving experience is also improved. “Electric cars accelerate faster than vehicles with traditional fuel engines – so they feel lighter to drive”, EDF says.

Sales of electric and hybrid cars boom in March

March was an especially productive month for car dealers selling hybrid and electric cars. Traditionally, car sales are especially high in March – more than during any other month of the year. But in March 2021 car dealers experienced record-breaking sales of EVs. Lockdowns and restrictions due to COVID-19 didn’t slow down the sales and it was a huge win for the electric car industry. According to The Guardian, “plug-in vehicle sales account for almost 14% of all new car sales in March”.

Among the top 10 cars that were sold in March 2021, the Toyota Yaris which is a hybrid car was the most popular amongst the eco-friendly vehicles. Volkswagen Golf and Mercedes-Benz A-Class which can be bought as a hybrid car were also on the list as was the fully electric Hyundai Kona (also available as a hybrid car), Driving Electric explains.

What does this mean for combustion engine vehicles?

The high demand for fully electric cars as well as hybrid cars may have an impact on the typical combustion engine vehicles. The forces of supply and demand are expected to impact the prices of combustion engine vehicles.

The increase in demand for EVs will undoubtedly reduce the demand for standard cars, especially used ones – which will ultimately result in their value falling much quicker than in the past. This means that you could be owing a lot more on your car than what it’s worth and could leave you in a tough financial situation should anything happen to it. Especially for preloved cars, a Gap Insurance can cover expenses in the case of an unexpected breakdown and can save you hundreds of pounds.

With EV sales surging, it is only a matter of time until electric cars become more popular than combustion engine vehicles.

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