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Highlights
- UK car sales fell by about 25 per cent in October, compared to the same month in 2020, as per preliminary data from the Society of Motor Manufacturers and Traders.
- UK’s total new car sales in 2021 is expected to rise by 1.9 per cent to 1.66 million units.
- UK’s EV sales in 2021 are expected to reach 287,000 units, higher than all EV sales from 2010 to 2019 combined.
The demand for new cars in the UK fell by about 25 per cent in October, on a year-on-year basis, according to preliminary data from industry body the Society of Motor Manufacturers and Traders (SMMT)
As per SMMT estimates, it expects the total number of new UK car registrations in 2021 to increase by 1.9 per cent from 2020. The total number of UK car sales is forecasted at 1.66 million for this year.
The industry body found that plug-in cars or electric vehicles accounted for 16 per cent of all new car sales, and the number of EVs sold in the UK is expected to reach 287,000 units in 2021.
This would be higher than the cumulative EV sales made in the UK between 2010 to 2019.
EVs have increasingly gained momentum due to ongoing government support and huge industry investment into the sector.
Let us take a look at 2 FTSE listed stocks with a focus on the EV space and how they have performed:
- Aston Martin Lagonda Global Holdings PLC (LON: AML)
FTSE 250 listed group Aston Martin is a luxury car manufacturer. Its cars were made popular by the James Bond movie franchise. The first of its 3 EV models are expected to debut in 2025.
The group recently stated its plans to have EVs account for at least 50 per cent of its car sales by the end of 2030.
The group reported its Q3 2021 and YTD 2021 results today. Its YTD 2021 total wholesale volumes jumped by 173 per cent to £4,250 million, from £1,555 million in YTD 2020.
The strong sales were due to robust customer demand and its DBX model deliveries being on plan, at over 2,100 units. And its YTD 2021 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose by £190 million on a year-on-year basis, to £72 million.
(Image source: EODHD/Others)
Aston Martin’s shares closed at GBX 1,752.00, up by 3.15 per cent on 3 November, while the FTSE 250 index ended at 23,116.97, down by 0.10 per cent.
The group’s market cap stands at £2,035.99 million, and its one-year return is at 61.18 per cent as of Wednesday.
- Saietta Group PLC (LON:SED)
FTSE AIM All-Share index constituent Saietta is a British global auto engineering and manufacturing group focused on the conceptualisation and production of EVs.
The group said in its latest operational update that it entered into an exclusive supplier agreement with transport manufacturer Electric Assisted Vehicles Ltd (EAV).
As per the agreement, Saietta will be the supplier of in-wheel traction motors for EAV’s proposed Lightweight Inner-City Solution vehicle.
The marine division of the group also started in-water testing of its first model of e-outboard motors.
(Image source: EODHD/Others)
Saietta’s shares closed at GBX 195.00, up by 0.52 per cent on 3 November, while the FTSE AIM All-Share index ended at 1,226.77, down by 0.07 per cent.
The group’s market cap stands at £ 165.84 million as of Wednesday. It was admitted into the LSE earlier this year on 7 July.
