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On the demand side, multiple factors are fueling increased interest in vehicle ownership. The commercial vehicle segment is experiencing healthy demand, driven partly by operators seeking to leverage recent tax benefits and incentives. Additionally, there's a notable shift among fleet operators acquiring electric vehicles (EVs) to replace aging diesel and petrol models, aligning with government push for cleaner transportation.

Private hire vehicle fleets are expanding as drivers upgrade their older vehicles to hybrids and EVs, further escalating demand. Some industry sources have speculated that the proliferation of private hire companies and fleet operators may be influencing prices, though government officials have dismissed such claims, asserting no conclusive evidence supports this.