How the electric car market is accelerating at speed

Leading South Coast car-retail business The Peter Cooper Motor Group is at the forefront of the electric vehicle revolution.

Official statistics, published by Autocar, showed 108,205 electric vehicles (EVs) were sold in 2020, up 180% year on year. Nearly 250,000 electric cars were on the roads in the UK in February this year, a figure set to double in 2021.

With government grants, massive company car tax benefits and rapid advancements in technology, it is no wonder the market for fully electric cars is gathering at such speed. For a number of years, the Peter Cooper Motor Group has been redefining its business, ready to navigate the change to electric.

The company has just launched myEVCP.co.uk (my electric vehicle charging points), an electric charger installation business which caters for the needs of a single private user, or a company or developer needing multiple units. This business opportunity seems incredibly well timed by the managing director of The Peter Cooper Motor Group, Darren Cooper.

He said: “myEVCP.co.uk will look after our customers during this exciting change from traditional fuels to electric. Thought needs to go into where your charging point can go, what size can your property cope with, will other works be necessary? We realised that the larger installation companies were asking customers to do all the investigative work themselves. myEVCP.co.uk is completely different, we survey every property, do all the investigative work, so our customers don’t have to.”

He added: “Businesses are looking to encourage staff to go green and are now looking to install electric charging points at places of work. Developers are installing points in all new developments, apartment blocks, council car parks and alike. At the moment you see the occasional charging point in a company car park but fast forward two to five years and they will be visible everywhere.”

According to Cooper, there are a number of other factors which will help accelerate the electric vehicle growth further.

He continued: “The first is the rapid development of technology that we are seeing. Batteries are developing so they can last longer and charge quicker. ‘Range anxiety’ will quickly become a concern relating only to the very first vehicles we saw on the market. Most new electric cars now boast a range of up to 250-350 miles, which easily covers most people’s daily needs considering you can start each day with a full charge. It’s like filling your car up every night.

“The second is convenience of infrastructure and the deals that the manufacturers are doing with supermarkets. Volkswagen worked in partnership with Tesco to put electric charging points in all its Superstores. At the time, this increased charging points in the UK by 14% almost overnight. Many motorway service stations now offer super chargers which allow cars to be topped up by 50% in around 20 minutes, enough time for a convenience break and a coffee.

“Thirdly, they are becoming more affordable. With fantastic PCP finance offers and incredibly attractive personal and business contract hire offers, electric vehicles are becoming more competitive than ever – and this will only improve over the coming years. We’re not at the ‘early adopter stage’ any more; electric vehicles count for an ever-growing sector of the new-car market now.

“It’s great to see so much choice hitting our markets. All the main car manufacturers are bringing out fantastic new products to make sure they are well placed for the year 2030, when all new cars must be electric. Volkswagen is a great example with its new ID family. Demand for the new ID.3 constantly outstrips supply and the newly launched ID.4 is set to be one of the most popular all electric SUVs on the market.

“Finally, the Government is making the electric car very attractive to the company car driver, with huge company car tax advantages. Most buyers consider an electric car when changing and all these factors are making the shift across an easier and more natural decision.

“The popularity of electric cars has made our leasing business – Peter Cooper Leasing – a natural one-stop shop for many of our business customers. We offer attractive lease deals on all makes of car and van, priding ourselves on being competitive in everything we sell, whether it’s a Mercedes EQC, an Audi e-tron or the Volkswagen ID.4. Our customers love dealing with a company with family values at its core, and leasing with confidence from a company with 40 years dedicated customer service history, no matter what brand of vehicle they decide to purchase.”

Cooper added: “Consumers will soon treat their cars like their mobile phones. Most of us regularly trade-up our mobile phone to gain the latest product and features available. We will do the same with cars. Customers will take a two-year lease out on a vehicle and hand it back for a newer model afterwards, never actually owning it. The electric vehicle in two years will be quicker, charge faster and last longer, so will be a worthwhile upgrade.

“While technology continues to advance at such a pace, this will remain the case for years to come and represent growth for the automotive sector. As always, the Peter Cooper Motor Group will ensure that we stay at the forefront of this transition; bringing the very best products and service levels to all our customers for years to come.”

Darren Cooper

dcooper@petercoopergroup.co.uk