EV registrations break records again in October

Another month of new car registrations has seen records broken for electric vehicles.

Although overall numbers of vehicle registrations, including petrol and diesel cars, are down, figures are much more positive for the electric sector.

Pure electric vehicles, classified as Battery Electric Vehicles (BEV) by the Society of Motor Manufacturers and Traders (SMMT) has grown by 195% year-on-year to 9,335 vehicles and Plug-in hybrids (PHEV) have grown by 148%. The biggest market growth is in the mild hybrid petrol category, which has grown annually by 545% to 16,023.

In terms of annual statistics, BEVs have grown 169% year-on-year from 28,259 in 2019 to 75,496 in October 2020. Additionally, PHEV has grown by 91% from 26,141 vehicles to 50,052 last month. Mild hybrids has grown in 2020 by 171%.

The size of the electric and hybrid market is now 364,955 vehicles to date in 2020, just under half the petrol vehicle market share (789,612) and now considerably more than the overall diesel market share (230,034).

Despite the good news on transition to EVs, the SMMT is concerned about the overall market, especially in light of the potential upheaval of Brexit and the continuing coronavirus crisis.

Mike Hawes, SMMT Chief Executive, said: “What is not in doubt, however, is that the entire industry now faces an even tougher end to the year as businesses desperately try to manage resources, stock, production and cashflow in the penultimate month before the inevitable upheaval of Brexit.

“Keeping showrooms open – some of the most Covid-secure retail environments around – would help cushion the blow but, more than ever, we need a tariff-free deal with the EU to provide some much-needed respite for an industry that is resilient but massively challenged.”