Electric vehicles (EVs) reached a significant milestone in the UK last month, with one out of every four cars sold being battery-powered, according to the Society of Motor Manufacturers and Traders (SMMT).
New registrations for battery electric vehicles (BEVs) , increased for an eleventh successive month, up 58.4%, bringing the market share to 25.1%.
This increase aligns with manufacturers offering discounts to meet the UK Government's Zero Emission Vehicle (ZEV) mandate, which requires that 22% of new car sales be zero-emission vehicles by 2024.
In November, registrations for petrol and diesel cars experienced double-digit declines, dropping by 17.7% and 10.1% respectively. Similarly, hybrid and plug-in hybrid registrations also fell, with decreases of 3.6% and 1.2%.
Despite the rise in EV sales, the overall new car market continues to face obstacles. Fleet purchases, which account for the majority (59.9%) of the market, fell by 1.1%, while total new car registrations decreased by 1.9% in November compared to the same month last year, with just over 153,600 vehicles sold.
While the electric vehicle sector shows promise, the industry anticipates that the UK’s BEV market share will reach 18.7% in 2024. Resulting the SMMT calling for continued Government support and improved consumer incentives to meet the ZEV mandate.
Read more about the UK Goverment's Autumn Budget, and the ongoing incentives aimed at assisting businesses in transitioning to electric cars and vans.
Find out more about the Work Place Charging Scheme.