UK Electric Car Registrations Projected to Reach 580,000 by 2026
- Market Share Growth: According to DriveElectric's forecasts, UK electric car registrations are projected to reach 580,000 units by 2026, accounting for 29% of new car sales, which represents a 5.6 percentage point increase from 23.4% in 2025, indicating rapid market expansion potential for electric vehicles.
- Rise of Electric Light Commercial Vehicles: Electric light commercial vehicle registrations are expected to grow by 50% in 2026 to around 45,000 units, reflecting significant technological advancements that enhance the appeal of electric vans for business use, thereby assisting manufacturers in meeting zero-emission vehicle compliance requirements.
- Pricing and Incentive Mechanisms: The introduction of more affordable electric models has narrowed the price gap between electric and traditional fuel vehicles, while the Electric Car Grant, offering up to £3,750 in subsidies, further boosts market acceptance and promotes electric vehicle adoption.
- Expansion of the Used Market: As registrations increase, the UK used electric vehicle market is also expanding, with over 1.8 million electric cars already registered, creating demand for both personal and business leasing options, which further drives the integration of electric vehicles into corporate carbon reporting systems.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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