Wednesday, December 25, 2024
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UK sees record EV sales in September

UK electric car sales recorded their best month on record in September, with over 50,000 new electric cars registered – according to statistics released by New AutoMotive.

Taken all together, car makers are beating the targets in the Zero Emission Vehicle (ZEV) mandate by using additional rewards for selling more hybrid vehicles, as registrations of non-electric petrol and diesel vehicles recorded their smallest share of newly registered vehicles in UK history.

New AutoMotive now projects that there will be a surplus of ZEV mandate credits in 2024, due to car makers’ collective overachievement of the regulatory requirements. Sales of purely electric car sales grew 23.3% when compared to September 2023, representing 20.8% of newly registered cars in the UK.

August and September 2024 have seen the strongest sales of EVs since December 2022, continuing a trend that has seen EV sales in the UK continue to grow far faster than in the rest of Euro.

Market Share by fuel type, YTD vs last year

Ben Nelmes, Chief Executive at New AutoMotive, said: 

“The UK’s electric car market is fizzing with life. Electric car registrations grew by almost a quarter in September, with one in five new cars an EV. It is great to see more people than ever before switching to cleaner, cheaper driving. 

“Sensible government policy is driving an emerging great British success story, with electric car registrations here outperforming the rest of Europe. We are in a global race to get EVs on the roads and Britain is pulling into the fast lane. 

“The UK car market is going through a period of profound change, and parts of the retail industry are moving quicker than others. Fortunately the vast majority of people in the UK will feel the climate and air pollution benefits no matter how clean vehicles are sold.”

INDUSTRY REACTION:

James Court, Chief Executive of EVA England, says:

“We continue to see the growth of EVs and the UK remain on track with our climate goals. An extra 50,000 EVs on UK roads is a sign that consumers are clearly seeing the benefit. Our latest EVA England survey showed that 9 in 10 EV drivers see no reason to switch back, and it’s great to see more drivers join them.”

Commenting on September’s new car registration figures, Gerry Keaney, BVRLA Chief Executive said:  

“September’s figures show that BEV registrations have gained some much-needed momentum, on the back of heavy discounting from manufacturers and sustained investment from business fleets. 

“This growth is welcome but will remain unstable and unsustainable unless the Government comes up with a long-term strategy for supporting the BEV market towards its ambitious ZEV Mandate and Phase Out targets.   

“Collapsing used BEV values – down 60% over two years and forecast to continue falling – have already led to an anticipated loss of 220,000 new EV sales. That ground now needs to be made up. Falling used values are eroding the confidence of fleet buyers and making the most popular way of financing a new electric car more expensive. We need used EV-targeted grants, tax incentives and a confidence-building communication campaign to boost retail demand and stabilise prices.” 

Chart courtesy of New AutoMotive. Image courtesy of Shutterstock.

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