• 4 minutes Some Good News on Climate Change Maybe
  • 7 minutes Cuba Charges U.S. Moving Special Forces, Preparing Venezuelan Intervention
  • 12 minutes Washington Eyes Crackdown On OPEC
  • 15 minutes Solar and Wind Will Not "Save" the Climate
  • 23 mins is climate change a hoax? $2 Trillion/year worth of programs intended to be handed out by politicians and bureaucrats?
  • 7 hours Why Trump will win the wall fight
  • 2 hours students walk out of school in protest of climate change
  • 14 hours Prospective Cause of Little Ice Age
  • 15 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 13 hours L.A. Mayor Ditches Gas Plant Plans
  • 5 hours Maduro Asks OPEC For Help Against U.S. Sanctions
  • 2 days Most Wanted Man In Latin America For AP Agency: Maduro Reveals Secret Meetings With US Envoy
  • 2 days Ford In Big Trouble: Three Recalls In North America
  • 18 hours And for the final post in this series of 3: we’ll have a look at the Decline Rates in the Permian
  • 24 hours IT IS FINISHED. OPEC Victorious
  • 2 days Why Is Japan Not a Leader in Renewables?
US Drillers See Modest Rise In Oil Rigs As Prices Hold

US Drillers See Modest Rise In Oil Rigs As Prices Hold

Baker Hughes reported an increase…

Emerging ‘Quality’ Problem To Haunt Oil Markets

Emerging ‘Quality’ Problem To Haunt Oil Markets

The divergence between lighter and…

UK Demand For Used Hybrid, Electric Vehicles Soars

EV charging

Sales of used hybrid, plug-in hybrid, and electric vehicles (EVs) in the UK jumped by 28.6 percent annually in the third quarter of 2018, the Society of Motor Manufacturers & Traders (SMMT) said in its Q3 used car sales statistics.  

Buyers in Britain continued flocking to alternative fuel vehicles in the summer months, with transactions for these types of used cars just shy of 30,000, SMMT says. The overall used car market in the UK fell by 2.1 percent to 2,057,547 vehicles changing hands. Of those, gasoline and diesel cars were almost 850,000, with sales of gasoline and diesel vehicles down by 2.3 percent and 2.6 percent, respectively, SMMT said.

But demand for alternative fuel vehicles surged “as consumers took advantage of the increasing range of ultra-low and zero emission cars entering the second-hand market, with pure electric cars posting an 8.3% jump in sales over the same period.”

“It is encouraging that the UK used car market has remained solid in the third quarter of the year, and good news that there is growing enthusiasm for alternatively powered vehicles,” Mike Hawes, SMMT Chief Executive, said in a statement.

“The right policies and incentives from government are needed to encourage new car buyers to take up the latest, cleanest petrol, diesel and electric models that best suit their driving needs. This would be the best way for these advanced technologies to filter through to the used market, helping to accelerate fleet renewal to improve air quality and meet climate change goals,” Hawes noted.

“However, whilst AFVs undoubtedly represent an exciting opportunity for retailers, significant growth may be hampered by a lack of availability,” Auto Trader director Ian Plummer told Motor Trader, commenting on the SMMT figures.

Just after Q3 ended, the UK government introduced changes last month to the financial incentives of the UK’s Plug-In Car Grant, cutting the grant for plug-in hybrids and ceasing to offer incentives for some other categories, which could remove a crucial incentive for buyers to purchase new low-emission vehicles.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News