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Market Rebounds Strongly - BEVS up 194% PHEV 159%

The total new light passenger market was up 88% in March - BUT the elephant in the room was last March the country went into lockdown. However for additional context, the Total Market including HGV and LCV was up 28% YTD.

Where the ICE market performed strongly, the BEV and PHEV market went nuts. BEVs were up 194% to 424 units for the month (up 111% YTD to 857 units) and PHEVs were up 159% to 150 units (up 26% YTD to 324 units). It should be noted that mild hybrid also performed strongly too - with 2688 units YTD (up 57% YTD).

Diesel and Plug In Hybrid have under-performed the market. Boost Auto said in January that 2021 will be the year of the PHEV and we stand by that prediction.

Whereas Toyota has a stranglehold on mild hybrid sales, the new PHEV arrivals aren't showing their scores on the doors yet. They will soon. To add to the mix, Toyota has a 6 month wait on RAV4 (mild) Hybrid according to their website, whereas the raft of new arrivals are likely to be able to fill the vacuum.

Boost Auto has noted a clear signalling from large corporates about their intent to pursue a lower carbon future. The shake-up is just beginning.

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