The new emissions regulations will boost electric registrations by 14% this year

The new emission regulations set by the European Union (EU), in force since January 1, 2020, will cause an increase in the registrations of electric vehicles of 14.2% this year, according to Sumauto, a specialist in vertical automotive portals. Eu legislation establishes that the average emissions sold by brands in 2020 must not exceed 95 g/km of CO2.

Above this figure, manufacturers will have to pay 95 euros for each gram of excess and car, which could lead to millionaire fines. That is why, according to Sumauto, they will promote the commercialization of electric models, since those sold in 2020 with emissions below 50 g / km of CO2 will be equivalent to two sales, a measure that will allow them to adapt to this regulation.

This explains why it is the companies that are expected to capture a greater volume of electric vehicles registered in 2020, reaching 6,878 units, which would mean an increase of 16.4% in year-on-year rate. This figure will be driven mainly by the self-registrations that dealers will have to make to contemporize with the brands and that will increase by 72.3%, to 2,748 units, according to MSI data. To this we must add the increasingly strict corporate social responsibility policies of companies, which will also be behind this growth.

In this context, it would not be surprising that from the second half of 2020 there is a strong concentration of self-registered electric models, which would cause dealers to increase the stock of kilometer zero and, in parallel, a decrease in their prices, thus positioning themselves as a more affordable purchase alternative for individuals.

Currently, the average cost of a new electric vehicle is around 40,000 euros, that is, the equivalent of a premium vehicle, while the first electric vehicles that are reaching the second-hand market are marketed at half the price, which is around 22,600 euros, with an average age that does not reach four years in 72% of cases.

An increasingly attractive purchase alternative

From Sumauto they point out that this expected decrease in the prices of the electric VO will contribute to place them as a more attractive purchase alternative for individuals. In fact, according to this specialist, electric vehicles generate more interest in search portals than combustion vehicles, with an average of 78 visits per month for electric vehicles compared to 38 for diesel and gasoline.

Thus, in a context of greater supply of electric vehicles and latent demand, the implementation of a new incentive plan for efficient and sustainable mobility (Plan MOVES) would stimulate purchases, especially when forecasts suggest that sales of electric vehicles in the private channel will fall by 3% in 2020, to 3,237 units, according to MSI.

Finally, in this analysis by channels, the rent a car will be the one that protagonizes the highest percentage growth in the registration of electric vehicles, with 34%, due to the pressure that some local regulations are exerting on the rental companies to include in their fleet some mandatory percentages of these motorizations. In total, this channel could register more than 1,100 units in the next year.

According to the CEO of Sumauto, Nicolás Cantaert, “2020 will be a good year for those interested in acquiring an electric vehicle, especially for the second-hand. Although the offers of diesel and gasoline vehicles will continue, there will be a high concentration of zero kilometer offers, especially in the second half of the year, when the end of the year approaches and the automotive brands want to avoid at all costs the fines of the European Union. To this will be added the commitment announced by the concessionaires to expand their charging infrastructure from 2,500 to 12,500 points in 2020.”

Source: Renewable Energies