EV initiatives cause customer confusion
Colliers International has stated that banning the sale of new hybrid cars, as well as petrol and diesel by 2040, will create even more confusion and uncertainty in the marketplace, and drive down buyer confidence.
John Roberts, head of automotive and roadside at Colliers commented, ‘Recent legislation from the UK government has allocated funding to support local authorities in creating the necessary electric charging infrastructure which is welcome. Yet the market is still in its infancy and some of these initiatives are perhaps causing some consumer confusion.
‘The Government’s plans are clearly welcomed and are extremely important for the advancement of the sector, however diesel and petrol engines are not being phased out completely until 2040, so there’s still more than 20-years before the changes come into effect. There is still a lot of work to do to prepare the infrastructure required to cater for the future of the sector.’
In Colliers International’s inaugural Automotive Viewpoint, John Roberts explained a combined undersupply of charging points both at home and ‘on the move’ alongside apprehension over lengthy charging times is contributing to a lack of buyer confidence and ‘range anxiety’ from existing and potential EV owners. Meanwhile, concerns over the ability of the current UK energy supply to meet future demand and the lack of guidance for landlords and developers for integrating charging points in to commercial premises is causing confusion.
As charging times are improving, the need for higher levels of electricity is also required, however some locations and properties are not able to provide the required capacities.
Colliers’ research highlights ‘range anxiety’ – the concern held by potential EV owners that the vehicle could run out of power before reaching their desired destination – as a key deterrent to EV ownership – John added, ‘Further infrastructure will need to be built and created, particularly at existing petrol filling stations and arterial route locations to serve any EV user travelling modest distances. Oil companies, such as Shell and BP, have already started to install and open charging points within their petrol stations to meet the growing EV demand.’