Wednesday, January 22, 2025
Electric VehiclesLatestNewsVehicle manufacturers

BEV boom as electric largest segment of UK vehicle registrations

The latest figures from the Society of Motor Manufacturers and Traders has revealed that battery-electric vehicles (BEV) made up almost a third of the market in the final month of 2024.

Data revealed that BEVs accounted for 31% of the market, which is the highest since December 2022’s record 32.9%. As a result, BEVs made up 19.6% for the overall year of 2024, which is up a fifth on 2023 – but marginally short of the 22% in the mandate.

Across the total market, pure petrol and diesel car registrations fell by -4.4% and -13.6% respectively as more buyers swapped either to BEVs, or to lower emission hybrid electric vehicles (up 9.6%) and plug-in hybrids (up 18.3%). Consequently, average new car CO2 has fallen by -6.2% to 102.1g/km.

SMMT chief executive Mike Hawes said more support for consumers and the industry was needed to accelerate to the 28% ZEV mandate in 2025.

He said: “A record year for EV registrations underscores vehicle manufacturers’ unswerving commitment to a decarbonised new car market, with more choice, better range and increased affordability than ever before.”

The SMMT claimed there was a lack of private buyer demand still, stating that fleets were driving BEV growth, but Quentin Willson, founder of FairCharge, said that the amount of private buyers was being “unrecorded”.

Willson said: “Too many PCPs, contract hire, finance and Motability purchases are recorded as fleet sales when they’re being driven by private buyers. We need to change the way these EV registrations are recorded, and fast.”

A Department for Transport spokesperson also welcomed the news, stating:

“Thanks to the flexibilities in the ZEV Mandate, we’re confident the whole market has complied with the 22% target and that no car manufacturer will need to pay fines.

“We’ve invested over £2.3 billion to support industry and consumers make the switch, rolled out more than 72,000 public chargers, and launched a consultation to invite the sector to shape how we achieve the transition to ZEVs.

“Getting this transition right as more people make a switch to electric vehicles will support the growth of the UK market and will provide an opportunity to tap into a multibillion-pound industry that will create high paid jobs for decades to come.”

Vicky Read, CEO of ChargeUK, said: 

“A fifth consecutive month and another year of growth for electric vehicles shows once again there is strong and growing demand and that the future is electric.

“It’s also been a year of growth for the EV charging sector, with over 73,000 public chargers currently in place and thousands more being installed every month ready to support these vehicles.  To ensure our members can continue to invest in the chargers, it’s essential we have a a strong and stable policy framework.

“We look forward to engaging in the government’s ongoing consultation and continue to urge policy makers to hold their nerve regarding ZEV mandate sales targets.”

Dan Caesar, CEO Electric Vehicles UK (EVUK) said:

“All the surveys show that 9 out of 10 EV drivers will never return to combustion cars. We were told that consumers don’t want EVs but these regular record figures now tell a different story. EVUK sees that private buyers are buying new EVs but the registration figures are blended with fleet sales, which distorts the data.

“We also see record private used EV sales which shows that the EV transition is happening and why the U.K. is the second most successful EV market in Europe. EVUK expects these record numbers to continue through 2025.”

Tom Barnard, Market Analyst, Electrifying.com said:

“At first glance, the apparent drop in demand from private buyers for electric cars may seem concerning. However, it reflects a fundamental shift in how we finance vehicles.

“It’s important to note that the sales figures from 2024 exclude private buyers who have benefited from the excellent deals on EVs available through salary sacrifice or personal lease schemes, as these are recorded as fleet registrations.”

James Court, Public Policy Director at Octopus Electric Vehicles said:

“Unsurprisingly this is yet another strong set of sales figures for EVs. The ZEV mandate is clearly working – even with the negativity being pushed by pockets of industry.

“We need a swift conclusion to the uncertainty around the ZEV mandate and re- focus efforts of industry and government to making this transition a success, for everyone. A story that cleans up our transport system and ensures jobs for years to come.”

Colin Walker, Head of Transport at the ECIU said:

“In hitting the Government’s EV sales targets in their first year, the car industry has proven its ability to make the transition to building the electric vehicles of the future.

“Suggestions that the car industry was struggling, and that the ZEV mandate target was too onerous, have proven to be wrong, and were often based on a misunderstanding of how the policy actually works.”

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