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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Marshall Motor Holdings Plc

More articles like this

Marshall Motor Holdings Plc

UK to see ‘thriving’ second-hand car market

One-third of used car sales will be electric vehicles by 2030, which is set to create a robust second-hand market for drivers looking to go green. By the end of the decade, around 31 percent of

Marshall Motor Holdings Plc

Surge in buying used cars thanks to cost of living crisis

New data from carwow suggests rising inflation, the cost of living crisis and new car delivery delays could all be reasons why motorists are embracing the used car market in ever greater numbers. carwow’s data shows a 113%

Marshall Motor Holdings Plc

Ten of the best electric cars for all scenarios

Affordable family transport 2012 Nissan Leaf – £8,344 If you (or your ‘friends’ down the pub) are under the impression Tesla invented the mainstream electric car, then the Nissan Leaf is here to say something about

Marshall Motor Holdings Plc

The best cars to own in the UK

These are the best new cars to own in the UK according to you, the people at the sharp end. Here are the 2022 Driver Power results! Every year, the Driver Power 2022 new-car survey provides

Marshall Motor Holdings Plc

How to check the MOT history of your car

The Government is considering scrapping the annual requirement for drivers to get an new MOT on their vehicles, and reducing it to every two years. Transport Secretary Grant Shapps is believed to have raised the idea at a Cabinet

Marshall Motor Holdings Plc

Marshall Motor revealed among AM Awards 2022 finalists

The UK’s best car retailers and repairers have been revealed among the finalists for the AM Awards 2022. After hours of deliberation, carefully considering a record number of entries, the AM Awards’ judges have made their

Marshall Motor Holdings Plc

The best selling cars in the UK

The UK’s new car market continued to recover in February, with sales of electric and plug-in hybrid cars driving growth. So, which models were the most popular?….. 15% more cars left showrooms in February than was