Initial ZEV mandate target within reach as sales of EVs rise
The latest statistics released by New Automotive show that battery electric vehicles continued their best ever start to the year as sales in the first five months of 2024 rose 10% on the same time last year, whilst the market share of BEVs in new car sales reached 17.9%.
Total car sales were up just under 2.2% in May 2024 on May 2023 levels, but pure petrol and diesel sales cratered over the same period, falling from 55% to 45% market share in just 12 months.
Car makers’ efforts to promote and discount EVs are bearing fruit, with Nissan, Vauxhall and Peugeot hitting highs of 18%, 20% and 21% BEV market share respectively.
Collectively the industry needs to only sell 1,800 extra EVs a month between June and December to hit the ZEV mandate target and avoid “fines” to Government or borrowing.
Meanwhile BMW are set to overtake Tesla as EV market leader. Electric van sales in the year continue to stagnate, with most firms seeming to focus on hitting car targets. Ford continue to account for most of the shortfall, whilst many other firms are close to their targets or have exceeded them.
Ben Nelmes, Chief Executive at New AutoMotive, said:
“It is great to see tens of thousands more drivers discovering the benefits of going electric. Electric cars are not only good for the planet, they’re good for your wallet, and they contribute to improving the nation’s energy security. “A key message from May’s data is that you only find growing car sales where there is a battery. Having abandoned diesel, consumers are now shunning petrol cars too. “This month’s data tells a story not only of a growing market, but a maturing market with growing consumer choice as brands respond to the UK’s world-leading Zero Emissions Vehicle mandate by growing their range of electric options.”With the general election campaign underway, these results show a strong swing towards electric cars. Whoever forms the next government should commit to maintain the UK’s leadership on cleaner, cheaper transport.”
The Zero Emission Vehicle Mandate (ZEV) mandate officially became law at the start of this year, requiring all new cars and vans to be zero emission by 2035.
The ZEV Mandate was passed into law by the House of Commons last month and will require 80% of new cars and 70% of new vans sold in Great Britain to be zero emission by 2030, increasing to 100% by 2035. MPs voted and passed the ZEV mandate into law with 381 ayes to 37 nos. It comes into force from today (3 January 2024).
For 2024, 22% of all new UK car sales from each qualifying brand must be zero-emissions, with the percentage gradually rising each year.
Image courtesy of Shutterstock.