Thursday, November 7, 2024
Electric VehiclesLatestNewsVehicle manufacturers

EV registrations continue to accelerate

BEV registrations have now reached 20.7% of the total market as the rapid decline of petrol and diesel vehicles has gathered pace.

Petrol has fallen by 14.2% and diesel is down again by 20.5% as pure electric is overtaking hybrid and plug-in vehicles, which also fell by small amounts, 1.6% and 3.2% respectively.

New figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed that the whole car market is down 6%, as manufacturers begin the large-scale shift away from ICE vehicles.

UK car buyers now have more than 125 BEV models to choose from, which is up 38% in just the last 10 months. In addition, one in five BEV models are cheaper than the average ICE purchase price, especially when customers take advantage of salary sacrifice schemes.

Almost 300,000 new BEVs have hit the road in 2024 to date, which is around 18.1% of the market, although short of the 22% target required under the ZEV mandate.

The SMMT called for further government incentives to get the BEV numbers up even higher and incentivise fleet renewals and private purchases in order to hit the even higher mandate of 28% by the end of 2025.

It said manufacturers were offering “historic levels of support” to the transition, but government needed to “match the manufacturers’ commitment”.

The figures were welcomed by the EV sector, which said it showed the ZEV mandate was working, and that now was the time to accelerate the transition and for the whole sector to get behind it.

Vicky Read, CEO of ChargeUK, said:

“At its core the EV transition needs two things – EVs to be sold and chargers to be deployed. Today’s SMMT figures, the third month in a row of sustained and solid EV sales, shows the demand from drivers is there and the ZEV targets are doing their job.

“Those same targets are the bedrock for £6bn of private investment in charging infrastructure, which is also being rolled at record rate, month after month, ready for all those new EVs.

“No-one ever said the ZEV mandate was going to be easy, but it’s working; weaken the targets now and willingness to invest in charging will dissipate and the EV transition will grind to a halt.

James Court, Chief Executive of EVA England, said:

“Another positive month of sales figures as the industry keeps on track to achieve the ZEV mandate despite the negativity from some.

“It’s now time for the sector as a whole to demonstrate that EVs are working for the vast majority of drivers and get behind the transition.”

Mike Hawes, SMMT Chief Executive, said:

“Massive manufacturer investment in model choice and market support is helping make the UK the second largest EV market in Europe. That transition, however, must not perversely slow down the reduction of carbon emissions from road transport.

“Fleet renewal across the market remains the quickest way to decarbonise, so diminishing overall uptake is not good news for the economy, for investment or for the environment. EVs already work for many people and businesses, but to shift the entire market at the pace demanded requires significant intervention on incentives, infrastructure and regulation.”

Image from Shutterstock

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