“We may see the EV market held back for 2-3 years,” says PRA’s Brian Madderson
The fuel industry has been hit hard by the pandemic. At present those in the industry are still unclear of what the long-term effects will be for the fuel industry but many agree that the Electric Vehicle (EV) market is to experience to some setbacks in the coming years.
“We may see the EV market held back for 2-3 years longer than it might have done otherwise,” says Brian Madderson, charmain of the Petrol Retailers Association. “At present we are seeing a strong level of activity in second-hand car sales as people buy extra but cheap vehicles to enable them to get to work and back with public transport being restrictive for users.
“Also, if people have bought a second car and they have been furloughed, or there are large scale redundancies, as has been forecast, then household budgets are not going to allow people to buy expensive second hand cars. Add that to both the Local Authority and government no longer being in the same position to generously fund charging point development as they once were.”
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