PwC comments on the extension to the ban of selling new petrol and diesel vehicles to 2035
20 Sep 2023
Cara Haffey, Head of Automotive at PwC UK, said: "The extension of the date of the ban on selling new petrol and diesel vehicles until 2035 will have an end-to-end impact on the automotive industry. Manufacturers will have already begun adjusting the direction of their investment with the initial 2030 deadline in mind, it will be interesting to see if this extension will now lead to reallocation of capital to other areas.
"Separately, this could lead to a dampening of EV demand by consumers. Our latest eReadiness report showed consumer demand has fallen in the UK market compared to last year, and with an extension confirmed - consumers may look to postpone their EV transition plans. The possible impact on the roll-out of vital EV infrastructure such as charging networks, is key, as this is only incentivized for developers if there is adequate consumer demand to meet the required deployment of capital."
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