As more models become available and consumer awareness of the benefits, such as cost savings in the long-term, alternatively fuelled vehicles are becoming increasingly popular in the UK.
In January, 4,598 alternatively fuelled vehicles were registered, a considerable increase of over 60% when compared to the 2,859 registered during the same month last year, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
Mike Hawes, SMMT chief executive, said, “Demand for alternatively-fuelled vehicles continued its surge with registrations rising 60.8%. Registrations of plug-in vehicles were particularly strong as consumers responded to a greater choice of makes and models delivering lower running costs.”
The figures have been published after a report revealed that some carmakers could fail to meet more stringent environmental regulation that could impact on investor returns. The CDP study ranked carmakers and found Japanese automotive companies are best prepared to deal with tougher rules on emissions.
CDP explained that American firm General Motors and Fiat Chrysler Automobiles, which is headquartered in the UK, could face fines equating to $1.7 billion (£1.1bn) and $574 million (£376m) respectively in the EU and IS for failing to meet regulation. The report added that over the next five to ten years advanced vehicles could be the key to growth as consumer demand continues to rise.
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