Battery electric vehicle (BEV) registrations rose 10.8% in August with the sector hitting its highest market share since December 2022, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
With a raft of new models on the market and discounting from manufacturers, BEVs commanded 32.9% of all new cars hitting the road.
Overall, the new car market remains stable, falling slightly by 1.3%, as buyers wait for the registration plate change in September.
Continuing the recent trend, fleet purchases drove the market, accounting for six in 10 cars registered last month, or 51,329 units, despite a -1.2% drop compared with the same month last year,
Petrol and diesel uptake fell by 10.1% and 7.3% respectively, and now represent only half of new registrations. Hybrid electric vehicle (HEV) uptake increased, by 36.1%, to take 13.8% of the market, and plug-in hybrid (PHEV) registrations declined 12.3%, with a 6.8% share.
Year to date, BEV market share has edged up to 17.2% and is expected to rise further to 18.5% by the end of the year thanks to increasing model choice – with 364,000 BEVs registrations forecast for the year.
But this will be short of the 22% required under the Zero Emission Vehicle Mandate.
Mike Hawes, SMMT Chief Executive, said,
“August’s EV growth is welcome, but it’s always a very low volume month and so subject to distortions ahead of September’s number plate change. The introduction of the new 74 plate, together with a raft of compelling offers and discounts from manufacturers, plus growing model choice, will help increase purchase consideration and be a true barometer for market demand.
“Encouraging a mass market shift to EVs remains a challenge, however, and urgent action must be taken to help buyers overcome affordability issues and concerns about chargepoint provision.”
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