In July 2024, electric vehicles (EVs) represented 18.8% of all car sales in the UK, with nearly 26,000 EVs sold. This brought the annual total to just under 185,000, an 11% increase from the previous year.
Data from New Automotive indicates that petrol car sales have seen a third consecutive month with less than 40% market share.
BMW has, for the second month in 2024, overtaken Tesla as the top seller of EVs. Stellantis has also made strides in meeting the Zero-Emission Vehicle (ZEV) mandate, boosting its EV market share from 16.8% to 17.8% year to date.
EV sales growth is evident, with SMMT data showing 691,929 fleet vehicles registered this year, marking a 21% increase since 2023.
Additionally, HMRC's late July annual report on taxable benefits in kind for company cars shows that nearly a third (29%) of company car drivers have switched to zero-emission electric vehicles.
Financial incentives like lower Benefit-in-Kind rates, Tax Relief, and EV Salary Sacrifice Schemes have been pivotal in this transition, offering significant savings for both company car drivers and businesses incorporating EVs into their fleets. For more information, please refer to our helpful guides linked below.