The pace at which the UK automotive sector is changing is leading to increased attention being made towards developments in hybrid and electric sectors of the market. As recently as late 2020 Chris Hadley Consulting again reviewed the prospects for the UK market assessing its potential for the coming decade. On this occasion adding a further to the complexity of forecasting was the impact of COVID-19.
A key element of the project was a thorough review of desk research and existing forecasts that already existed on this market and its future prospects. Combined with trade interviews and an assessment of likely policies to stimulate this market, new forecasts for the market were developed.
Despite overall car sales being depressed during 2020 the hybrid and electric market continued to make progress. Benefitting from a rapid widening of the number of vehicles available, with many now in mid-market price points, they are set to capture a growing share of the market by the middle of this decade.