Comprehensive Analysis: Electric Vehicle Popularity in the UK

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Added on  2022/12/28

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This report provides a comprehensive analysis of the increasing popularity of electric vehicles (EVs) in the UK. It begins with an introduction highlighting the UK government's commitment to emission-free road vehicles and the associated market and technological drivers, including government incentives and the growing market share of plug-in vehicles. The report examines the perception of electric vehicles, the challenges they face, and potential strategies to overcome these challenges. It includes a review of relevant literature and data from governmental and non-governmental sources, focusing on sales trends and consumer preferences. The methodology section details the use of primary and secondary research, qualitative and quantitative data analysis methods. The report summarizes the literature and data, discussing the growth of the EV market, the importance of data analysis for informed decision-making, and the competitive landscape, specifically mentioning Tesla's dominance. The report concludes with an evaluation of the relevance of the literature sources and a reflection on the research process, including challenges faced and lessons learned.
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The popularity of
electric vehicles in the
UK
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Table of Contents
INTRODUCTION...........................................................................................................................1
Description of literature & data .............................................................................................1
Methodology:.........................................................................................................................3
Summary of the literature and data. ......................................................................................4
Evaluation of the relevance/appropriateness of literature sources.........................................6
Reflection...............................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Topic: The popularity of electric vehicles in the UK
Government of UK is working towards focusing on having road vehicles complete
emission free by the coming time period that is by end of year 2050 as they are planning a ban on
new petrol & diesel cars in 2030. these are related to availability of technology & market
premises that is driving the transport sector towards transition towards electric vehicles. The
increasing popularity of such electric vehicles is associated with the presence of plug in cars,
SUVs, Medium sized vans that is creating a higher financial sense for business that is working
towards conversion of the whole fleet of electric vehicles (Macioszek, 2019). The government is
willing to adopt some of the measures that can lead to creation of higher awareness among the
general public regarding use of such vehicles, the use of plug in electric vehicles is supported by
the government as they are planning plug in car, van grants schemes & other sort of incentives.
Approx 298,000 light duty plug in vehicles have been registered across UK till April 2020
(Electric car market statistics, 2021). The electric care markets is also growing very fast with
over 164,1000 electric on roads of UK by end of September 2020. Present report is based on
making a detailed evaluation of the popularity of electric vehicles across different parts of UK.
Present report is based on analysing the laid down aims of this report as mentioned below:
To analyse the perception regarding electric vehicles
To evaluate challenges faced by electric vehicles in UK
To Formulate strategies to deal with the challenges faced by electric vehicles across UK.
Description of literature & data
According to (Wang, 2019), the auto-mobile sector is changing at rapid scale and
industry of cars is developing rapidly. With changing time period,new tools, technologies,
software has been adopted to produce more efficient cars within market. The market of electric
vehicles is enlarging from year 2016 with high growth. Main reason of growth of EV is that
changing preferences of consumers and safety of environment. Government expect that with
rising of consumer preferences of electric vehicles, policies can be managed more efficiently.
This literature is set to answer following questions such as how frequently they perception
regarding EV changes, how business can implement strategies to deal with challenges faced by
electric vehicles across U.K. It is examined that it is necessary to be aware about these changing
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situations of market so that objectives are achieved efficiently. The data of EV of United
Kingdom is being collected from both governmental as well as non-governmental sources, local,
national auto mobile manufactures, electric utilities & other dealers in market (Soetevent, 2021).
In UK region, people are concerned about safety of environment which depicts that they
prefer more electric cars rather than non-EV. The adoption of EV is being divided into
categories which are economic & psychological. It depends upon market which methods are
adopted by them. This is analysed that demand for electric vehicles is going to bloom for next 10
years (Singh, 2021).
Data analysis : Projected Global sales of EV
From above shown picture it is seen that the sale growth of EV is going to rise in future
at higher scale. Moreover, with with change period of time data changes & projected data
reflects that resources are to be used by auto mobile industry to cope up with new challenges in
effective manner. The data shows that sales growth is increasing in United Kingdom as
compared to year 2017 in which sales growth of EV was about 164100 and as in 2020 the sale
was 373, 600 of plug in models (Sengupta, 2020). Therefore, scanning of business environment
is to be done so that strategies for electric vehicles is being adopted effectively. Further, it is
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analysed that to protect environment from being getting polluted, most of countries are adopting
electric vehicle (Soetevent, 2021).
Methodology:
Background of research: There has been a emerging trend of a positive sale graph of
sales of electric vehicle in year 2020. the combined share of electric vehicles gave been shifted
significantly upwards since September 2019 (Küfeoğlu and Melchiorre, 2020). There have been
launching of many new models with higher regularity and that is accelerating the whole trends in
the present time period. Mitsubishi's outlander PHEV is one of most poplar plug in vehicles by
end of June 2020. there has been selling of 46,400 units which are sold and is recognized as the
fastest selling plug in cars for a time period of more than five years. Another second most
popular care is the Nissan Leaf. All these figures indicate that the strength of markets of UK in
case of electric vehicle segment is considered by the present popular models of electric vehicles.
The research report is based on analysing such changing preference of people and further
reaching to relevant conclusions in form of the challenge & strategies that are faced by these
brands.
The present research report is based on use of certain specific methodologies for the objective of
collecting relevant information of the research, some of such aspects of research methodology
are discussed below:
Primary research: It is a methodology in which there is use of primary sources of data collection
that is there is use of first hand information for the purpose of reaching to the laid objectives of
the research.
Secondary research: In this method there is use of already existing source of data for the
purpose of achievement of laid outcomes of research. There is no collection of original
information while this method is used by researcher as the information is used from already
existing sources that is online articles, journal sources. In present report there is application of
secondary methods for the purpose of drawing relevant conclusions (Morgan, 2020).
Qualitative data: It is a type of data that is collected by first hand observation, questionnaires,
interview's participant observation. There is no use of numerical form of information in this
method.
Quantitative data: It is a research strategy that is focusing in quantification of the collected
information and further making analysis of data. It is a type of deductive approach where there is
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emphasis on testing of theory that is shaped by positivist and empiricist philosophies (Muneer,
Kolhe and Doyle, 2017).
In present report there is application of both qualitative and quantitative methods for the
purpose of reaching to relevant conclusions.
Summary of the literature and data.
The above shown literature review as well as data reflects about how market of U.K is
supporting electric vehicles within market. It is further stated that sales and profit ratio of auto
mobile industry is increasing rapidly. Moreover, it is analysed data of EV sales growth has been
discussed which too shows that many companies are producing EV in market of United
Kingdom such as Tesla, Nissan, Toyota, etc.(Kamran, 2021). In literature review, it is
summarises about change of auto mobile sector periodically. Comparison of electric vehicles
within year between 2017 & 2020 has been made. The difference shows that data sales of EV
rises & is at booming stage which is changing the automotive sector widely. Data of auto mobile
is gathered from government as well as government sources which increases the reliability of
study. Also, appropriate type of sources are to be accessed so that knowledge is gained widely.
It is important for auto mobile industry to have appropriate knowledge about market &
changing situations so that it is easy to implement strategies in efficient manner. Further, it is
critically necessary to analyse that resources are being used efficiently so that they can use them
efficiently. Thus, it is concluded that with changing industry resource, environment & other
activities expectations are changing of customers which are to properly focused. The concept of
EV is important which is to understood in proper manner. It is essential for entrepreneurs to
overcome with barriers which are faced during producing electric vehicles so that it is easy use
resources accordingly. Furthermore, it is also specified that effective way of strategies are
essential to be used so that uncertain situations are easily encountered. Moreover, it is examine
that data is important for the readers and auto mobile sector because with help of gathering of
data it is easy to make well informed and efficient decisions (Hertzke, 2019). Also, data analysis
assists in carrying out competitor analysis effectively. In automotive sector, use of data helps in
making decisions & implementing of strategies appropriately which are beneficial for growth &
development.
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Best selling EV companies
Above picture shows that sales growth of EV in between January and July and it is
examined that Tesla is being considered as major competitor. Moreover, it is stated that data ids
collected through secondary sources and is reliable (He, 2021). With help of collection data, it is
easy for readers to gain relevant & appropriate knowledge about topic. Thus, it is essential to
gather up data in most efficient way so that positive output is achieved (Wang, 2019).
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Evaluation of the relevance/appropriateness of literature sources
There has been use of existing online and journal sources for the purpose of making a
detailed evaluation of the topics and the aims that have been part of the present research report
(Dixon, Elders and Bell, 2020). The existing articles are assisting in providing the secondary
sources of information which can be further analysed according to the requirement of a particular
research work. The key literature sources are assisting in using the information from authentic
sources as it is related to the different view points of author regarding the present subject matter.
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Reflection
In the present research report I have focussed on use of different existing sources for the
purpose of collecting information. I have used my present researching skills that helped me a in
analysing different sources so that most suitable sources can be selected and reliable information
can be extracted. There were some of the difficulty that is related to availability of limited time
period so I have to work on improving my time management skills so that in future work I could
extract maximum work out of the available limited resources. I have learnt the skills of
communication and leading team as I had to delegate responsibility to my other team members
while working at the position of a leader. There have been issues related to internal conflicts
taking place between the group members regarding the way some of the activities have to be
carried on. I focussed on handling of all such problems by implementation of participative
leadership style of managing team so that each individual can be given a opportunity to preset
their views and opinions.
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CONCLUSION
After a brief analysis of above report, it is concluded that market of auto mobile sector is
flexible. Discussions have been made about literature and data, brief introduction of topic,
process used to select literature & data, summary of literature as well as data, evaluation and
reflection. Thus, it is evaluated that appropriate type of sources is being collected to examine the
importance of electric vehicles in United Kingdom. Furthermore, it is stated that how changing
preference impact upon sales growth of auto mobile industry at larger scale. Competitors of
electric vehicles are also increasing such as Kia, MG Hector provides vehicles at affordable
prices. Therefore, data is to be determined properly so that it is easy to fulfil needs and demands
of customers specifically.
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REFERENCES
Books and Journals
Dixon, J., Elders, I. and Bell, K., 2020. Evaluating the likely temporal variation in electric
vehicle charging demand at popular amenities using smartphone locational data. IET
Intelligent Transport Systems, 14(6), pp.504-510.
He, 2021. Does environmental concern promote EV sales? Duopoly pricing analysis considering
consumer heterogeneity.Transportation Research Part D: Transport and Environment,
91, p.102695.
Hertzke, 2019. Expanding electric-vehicle adoption despite early growing pains. McKinsey &
Company.
Kamran, 2021. A dynamic material flow analysis of lithium-ion battery metals for electric
vehicles and grid storage in the UK: Assessing the impact of shared mobility and end-of-
life strategies. Resources, Conservation and Recycling, 167, p.105412.
Küfeoğlu, S. and Melchiorre, D., 2020, September. Electric Vehicles and Batteries as Domestic
Storage Units in the United Kingdom. In 2020 2nd International Conference on Smart
Power & Internet Energy Systems (SPIES) (pp. 199-204). IEEE.
Macioszek, E., 2019, September. Electric vehicles-problems and issues. In Scientific And
Technical Conference Transport Systems Theory And Practice (pp. 169-183). Springer,
Cham.
Morgan, J., 2020. Electric vehicles: the future we made and the problem of unmaking
it. Cambridge Journal of Economics, 44(4), pp.953-977.
Muneer, T., Kolhe, M. and Doyle, A., 2017. Electric vehicles: prospects and challenges.
Elsevier.
Sengupta, 2020. Exchange Rate Pass-through: An exploration on India’s automobile sector.
Singh, 2021. A review on metal matrix composite for automobile applications. Materials Today:
Proceedings.
Soetevent, 2021. I’d Like to Move It! Consumption Rivalry in the EV Public Charging Market:
Demand Estimation with Deterministic Choice Set Variation.
Wang, 2019. Blockchain‐Enabled Data Sharing in Supply Chains: Model, Operationalization and
Tutorial. Production and Operations Management.
Online:
Electric car market statistics, 2021 [online], Available
through<https://www.nextgreencar.com/electric-cars/statistics/>
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