Success in booming EV market hinges on readiness

The electric vehicle market in the UK is expanding rapidly, with more than 190,000 new battery electric vehicles (BEVs) sold last year, despite the government’s decision to cut grants. With demand set to increase further – ahead of a planned ban on the sale of new internal combustion engine (ICE) vehicles in 2030 – consumers are eagerly awaiting more options to choose from.

As the market evolves, other opportunities to drive efficiency and value could come to light and manufacturers should be prepared to act quickly. For example, some automakers, such as Ford and VW, have opted to collaborate and share EV platforms. While this brings them opportunities to realise synergic efficiencies, it could also increase the risk of losing market share. Others have focused on securing a reliable battery-supply partner as more domestic Gigafactory production comes online – this could be crucial as production volumes increase.

Going forward, there could be opportunities for OEMs to outsource their dealership and maintenance and repair networks to a single supplier. Constellation Automotive’s decision to offer £201.6m for a controlling stake in Marshall Motor Group in November 2021 shows that there is significant appetite for consolidation at this end of the market. 

Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.

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