Posted on 14 Oct 2024
Unprecedented discounts enabled the UK to hit a new record volume in the sales of battery electric vehicles (BEVs) in September, with registrations increasing 24.4% year-on-year.
Some 56,387 new BEVs were sold in the month, accounting for a market share of 20.5%, up from 16.6% a year ago, Kallanish reports. However, automotive trade association SMMT warns this was not enough to shift market share significantly, with the penetration rate expected to reach 18.5% by year-end.
Under the UK’s Zero Emission Vehicle (ZEV) mandate, BEVs or other zero-emission powertrains, must account for 22% of manufacturers’ sales this year. But for this to be achieved, industry is urging the government to provide fiscal incentives.
“September’s record EV performance is good news, but look under the bonnet and there are serious concerns as the market is not growing quickly enough to meet mandated targets,” comments SMMT ceo Mike Hawes.
Private BEV demand in September rose 3.6%, but only to 410 registrations. Consumer demand for diesel cars was nearly five-fold higher.
BEV uptake in the UK has been constantly driven by fleet purchases, with the country currently only offering corporate purchase incentives.
SMMT and 12 major vehicle manufacturers, representing over 75% of the UK market, have asked the Chancellor to provide measures to support consumers and help speed up the pace of the EV transition.
They hope the government’s upcoming budget will include a temporary 50% cut in VAT on new EV purchases; scrappage of the “expensive car tax” supplement for ZEVs (due next year); equal VAT on public charging at 5%; and continuation of business purchase incentives and plug-in van subsidies.
The country also saw plug-in hybrid electric vehicle (PHEV) registrations increase 32.1% y-o-y to 24,486 units. Meanwhile, sales of hybrid electric cars (HEVs) rose only 2.6% to 39,017 units. Overall car registrations increased 1% in September.
Source:Kallanish
